Ark. Grants Waivers to Displaced Insurance Producers

State Insurance Commissioner Julie Benafield Bowman announced the Arkansas Insurance Department is providing assistance to producers, consultants and business entities located in areas devastated by Hurricane Katrina.

The assistance will include providing duplicate licenses, waiving fees for certification requests, waiving fees for license renewals, and penalty relief for late license renewals.

Generally, the department sends renewal notices 60 days prior to the expiration date of the license. However, due to mail delivery problems and the dislocation of many residents, the Arkansas Insurance Department will automatically renew those currently active licenses for individuals and business entities, whose residence or physical business location is reflected to be in the Zip Code areas most heavily damaged in the states of Louisiana, Mississippi and Alabama.

This special arrangement will be in effect for one year beginning Aug. 29, 2005.

Additionally, licensed producers, and consultants from the affected areas of Louisiana, Mississippi and Alabama who have relocated to Arkansas as a result of Hurricane Katrina, and desire to solicit business in the State of Arkansas, will have the usual non-resident license fees waived. Those individuals will be required to complete and submit to the Arkansas Insurance Department a non-resident application. However, home state certification will not be required.

Verification of licensure and resident address will be conducted through the National Producer Database of the National Association of Insurance Commissioners (NAIC).