23 CAR § 4-103 – Antifraud assessment

(a) The antifraud assessment of licensed insurers due under Arkansas Code § 23-100-104 shall be due and payable in the amounts, methods, and manner described in subsections (b) and (c) of this section on or before June 1 of each calendar year, based upon the direct premiums and/or annuity considerations written or received from or in the State of Arkansas during the previous calendar year and as reported in the pertinent annual statement.
(b) The antifraud assessment shall be determined and paid in accordance with the following schedule: ARKANSAS PREMIUMS ANTIFRAUD ASSESSMENT $ 0-2,499,999 $ 400 2,500,000-4,999,999 600 5,000,000-7,499,999 650 7,500,000-9,999,999 700 10,000,000-19,999,999 750 20,000,000-29,999,999 800 30,000,000-49,999,999 850 50,000,000-74,999,999 900 75,000,000-99,999,999 950 100,000,000 AND UP 1,000
(c) Manner and method of payment.
1. (1) The amount of the assessment shall be reported on a form prescribed by the Insurance Commissioner, and the assessment payment shall be tendered to the State Insurance Department using the OPTins (Online Premium Tax for Insurance) system.
2. (2)
  1. (A) No other code or rule fees, licensure fees, fines, or taxes shall accompany the filing and payment of this assessment and any penalties required under this rule.
  2. (B) However, if by error any other fees, fines, or taxes accompany or are included with this fee payment, the unrelated payment or payments shall be deposited pursuant to the other applicable law or rule or refunded to the payor or other appropriate party.
3. (3) Licensed insurers failing to timely pay the antifraud assessment shall be subject to a penalty of one hundred dollars ($100) per day for each day of delinquency.
(d) Payment upon voluntary withdrawal. Any insurer voluntarily withdrawing from the State of Arkansas, or voluntarily surrendering its Arkansas certificate of authority for cancellation, shall report and pay the assessment owed under this rule for the final report or calendar year of withdrawal before the department cancels or expires the Arkansas license and before the department releases any security deposit of the withdrawing insurer.