Ark. Reminds Insurers of Rural Risk Underwriting Assessment

The Arkansas Insurance Department issued a reminder that the annual Rural Risk Underwriting Assessment of $200 is due to the department by Dec. 31.

Under state law, the insurance commissioner may assess insurers for the $200 fee yearly unless the commissioner determines that a lesser amount is required after consultation with the Arkansas Rural Risk Underwriting Association Board and the plan manager.

While no assessment was necessary in 2004 (see A.I.D. Bulletin No. 12-2004), the commissioner, the Board and the plan manager have determined that assessments are needed for the years 2005 and 2006.

For both the 2005 and 2006 assessments, the appropriate form and remittance must be mailed to Sandy Williams, ARRUA Plan Manager, American Underwriters Insurance Company, P. O. Box 2020, Conway, AR 72032; remittance should be made payable to the “Arkansas Rural Risk Underwriting Association.”

Each assessment is due by the respective year’s end – Dec. 31.

A full copy of Act 1326 can be found on the Arkansas General Assembly Web site or www.arkleg.state.ar.us/.

Any questions regarding the assessment may be directed to Becky Harrington, Certified Rate and Form Analyst, Arkansas Insurance Department, Property and Casualty Division, at (501) 371-2800 or by e-mail at becky.harrington@arkansas.gov, or Sandy Williams, ARRUA Plan Manager, (501) 450-7400 or by e-mail at sandyw@amcins.com.