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AR HB1419

AR HB1419
To Amend The Arkansas Workers' Compensation Insurance Plan; And To Revise The Reporting Requirements For The Arkansas Workers' Compensation Insurance Plan.


summary

Introduced
02/05/2025
In Committee
02/05/2025
Crossed Over
Passed
Dead
05/05/2025

Introduced Session

95th General Assembly (2025 Regular)

Bill Summary

AN ACT TO AMEND THE ARKANSAS WORKERS' COMPENSATION INSURANCE PLAN; TO REVISE THE REPORTING REQUIREMENTS FOR THE ARKANSAS WORKERS' COMPENSATION INSURANCE PLAN; TO AMEND THE ADMINISTRATION AND PLAN SELECTION PROCESS UNDER THE ARKANSAS WORKERS' COMPENSATION INSURANCE PLAN; AND FOR OTHER PURPOSES.

AI Summary

This bill amends the Arkansas Workers' Compensation Insurance Plan by modifying the competitive selection process for the plan's administrator and servicing carriers. The key changes include requiring the Insurance Commissioner to competitively select the administrator and servicing carriers at least every three years, with considerations including cost, finances, service capabilities, and performance. The bill allows the commissioner to suspend formal bidding under specific conditions, such as finding satisfactory improvement in current administrator performance or determining that continuation of the current administrator is in the best interests of Arkansas. The bill removes previous reporting requirements to legislative committees, effectively eliminating the annual reporting mandate that previously required the commissioner to review and report on plan operations, competitive selection, performance, and coverage. The changes aim to provide more flexibility to the Insurance Commissioner in managing the workers' compensation insurance plan while maintaining a competitive selection process.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

House Insurance & Commerce (10:00:00 2/19/2025 Room 149) (on 02/19/2025)

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