Ark. Revises Earthquake Coverage Reporting Form

The Arkansas Insurance Department has revised the form insurers use to report the extent of their earthquake coverage in the state.

The information is needed by the Arkansas Earthquake Authority, which reviews the status of the Arkansas Voluntary Residential Earthquake Market and provides an analysis of the number of companies writing residential earthquake coverage in Arkansas. Residential earthquake coverage means homeowner, noncommercial dwelling fire, mobile home, and farmowner lines of business.

The revised reporting form may be found using the Data Report Deadlines link on the department’s Property & Casualty Division Web page at http://insurance.arkansas.gov/PandC/divpage.htm.

Companies must indicate whether they are actively writing new residential earthquake coverage business or the date the company ceased writing earthquake new business. In-force exposures (dwelling and contents values provided in the policy) must be reported by county.

The report must be submitted without formatting changes as an Excel spreadsheet by e-mail to becky.harrington@arkansas.gov by April 1 each year.

All questions should be directed to Becky Harrington, Certified Analyst, Property & Casualty Division, Arkansas Insurance Department, 1200 West Third Street, Little Rock, AR 72201, via e-mail to becky.harrington@arkansas.gov or by phone at (501) 371-2800.

Source: Arkansas Insurance Department