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Bill > HB1419
AR HB1419
AR HB1419To 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
02/05/2025
In Committee
02/05/2025
02/05/2025
Crossed Over
Passed
Dead
05/05/2025
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)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://arkleg.state.ar.us/Bills/Detail?id=hb1419&ddBienniumSession=2025%2F2025R |
BillText | https://arkleg.state.ar.us/Home/FTPDocument?path=%2FBills%2F2025R%2FPublic%2FHB1419.pdf |
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