Reimbursement insurance policy.
Ark. Code Ann. § 23-66-806
in effect(a) A reimbursement insurance policy insuring online marketplace guarantees sold or offered in this state shall clearly state that, upon failure of the provider to perform under the online marketplace guarantee, the insurer that issued the policy shall pay on behalf of the provider any sums the provider is obligated to pay according to such online marketplace guarantee.
(b)(1) A reimbursement insurance policy is subject to the laws and rules governing termination and nonrenewal of an insurance policy in this state.
(2) The termination of a reimbursement insurance policy shall not reduce the issuer’s responsibility for online marketplace guarantees issued by providers before the effective date of the termination.
(c)(1) For purposes of § 23-64-207, a provider is considered to be the agent of the insurer which issued the reimbursement insurance policy.
(2) The insurer retains the right to seek indemnification or subrogation from the provider if the insurer pays or is obligated to pay sums to the platform contract holder that the provider was obligated to pay under the online marketplace guarantee.
(3) This subchapter does not prevent or limit the insurer's right in this regard.
Source: Arkansas General Assembly, Acts of 2021-2026 (arkleg.state.ar.us)URL: https://arkleg.state.ar.us/Acts/FTPDocument?path=%2FACTS%2F2025R%2FPublic%2F&file=426.pdf&ddBienniumSession=2025%2F2025RFetched: 11/8/2026