(a)
- (1) Any authorized insurer that files for approval with the Insurance Commissioner an agreement of bulk or assumptive reinsurance between itself and an unauthorized insurer may request a waiver of hearing.
- (2) Such request shall be made by separate written letter attached to the petition for approval and shall set forth the grounds which the insurer believes support the waiver of hearing.
- (b) A waiver of hearing, if granted, shall be set out in writing by the commissioner or his or her representative and shall be sent to the parties to the agreement.
(c)
- (1) If the commissioner shall disapprove any agreement the commissioner or his or her representative shall so notify the parties to the agreement by certified mail.
- (2) Any party wishing to appeal the disapproval shall file a notice of appeal with the Pulaski County Circuit Court Clerk pursuant to Arkansas Code § 23-61-307 within thirty (30) days of receipt of the letter of disapproval.