Arkansas Insurance Department Reminds Insurers to Complete Earthquake Survey by April 1

Arkansas Insurance Department Reminds Insurers to Complete Earthquake Survey by April 1

 

The Arkansas Insurance Department issued Bulletin No. 2-2022, on February 10, 2022, to provide insurers with a revised reporting form for earthquake coverage market analysisand also reminds all licensed P&C insurers, Farmers Mutual AID Associations, Surplus Lines Insurers, NAIC, and other interested parties that it must be submitted by April 1 each year. Pursuant to Arkansas law, the Arkansas Earthquake Authority must review the status of the Arkansas Voluntary Residential Earthquake Market by providing an analysis of the number of companies writing residential earthquake coverage in the state.

The revised reporting form can be found in the Property & Casualty Insurer section of the Product Compliance webpage. The annual earthquake survey requires companies to complete the interrogatories and provide in-force exposures (dwelling and contents values provided in the policy) by county. The report must be submitted without formatting changes as an Excel spreadsheet by email to Insurance.Earthquake.Analysis@arkansas.gov by April 1 each year.

All questions should be directed to Becky Harrington, Compliance Officer, Property & Casualty Division, Arkansas Insurance Department, 1 Commerce Way, Little Rock, AR 72202, via e-mail to becky.harrington@arkansas.gov, or by phone at (501) 371-2810.

 

Link to Bulletin

Link to Data