(a) This chapter shall apply to covered claims existing prior to the determination that an insurer is an insolvent insurer and to covered claims arising within thirty (30) days after the determination of insolvency or before the policy expiration date if less than thirty (30) days after the determination of insolvency or before the insured replaces the policy or effects its cancellation, if he or she does so within thirty (30) days of the determination of insolvency.
(b) Upon the determination by a court of competent jurisdiction that an insurer is an insolvent insurer, the Insurance Commissioner shall notify the insureds of the insolvent insurer of the determination and of their rights under this chapter. The notification shall be by mail at each insured's last known address, when available, but if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation printed in this state shall be sufficient.
(c) Notwithstanding any other provisions of this chapter, a covered claim shall not include any claim filed with the guaranty fund after the final date set by the court for the filing of claims against the liquidator or receiver of an insolvent insurer.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 90 - Arkansas Property And Casualty Insurance Guaranty Act
§ 23-90-104. Applicability — Exceptions
§ 23-90-106. Arkansas Property and Casualty Advisory Association — Creation — Members
§ 23-90-107. Arkansas Property and Casualty Advisory Association — Procedures
§ 23-90-108. Arkansas Property and Casualty Advisory Association — Powers and duties
§ 23-90-109. Arkansas Property and Casualty Advisory Association — Reports and recommendations
§ 23-90-111. Covered claims — Notification to insureds of insurer's insolvency
§ 23-90-112. Estimation of amount needed to pay claims — Assessment of insurers
§ 23-90-113. Failure to pay assessment
§ 23-90-114. Accounting for and repayment of assessments
§ 23-90-115. Payment of covered claims
§ 23-90-116. Duties of receiver
§ 23-90-117. Right of recovery
§ 23-90-118. Issuance of new or renewal policies
§ 23-90-119. Assessment as credit against taxes
§ 23-90-120. Liability of insurer, commissioner, etc
§ 23-90-121. Certain advertisements, announcements, and statements prohibited — Exception