§ 23-63-1202 - Contents of report. - Arkansas Statutes

23-63-1202. Contents of report.

(a) The report required by this subchapter shall include, but not be limited to, the following types of insurance written by such insurer:

(1) Motor vehicle bodily injury liability insurance, including medical pay insurance;

(2) Products liability insurance;

(3) Medical malpractice insurance;

(4) Architects' and engineers' malpractice insurance;

(5) Attorneys' malpractice insurance;

(6) Motor vehicle personal injury protection insurance;

(7) Motor vehicle property liability insurance;

(8) Uninsured motorist insurance;

(9) Underinsured motorist insurance; and

(10) Workers' compensation insurance.

(b) The report shall include the following data for the previous year ending on December 31:

(1) Direct premiums written;

(2) Direct premiums earned;

(3) Net investment income, including net realized capital gains and losses, using appropriate estimates where necessary;

(4) Incurred claims developed as the sum of, and with figures provided for, the following:

(A) Dollar amount of claims paid current year or paid losses; plus

(B) Reserves for reported claims at the end of the current year; minus

(C) Reserves for reported claims at the end of the previous year; plus

(D) Reserves for incurred but not reported claims at the end of the current year; minus

(E) Reserves for incurred but not reported claims at the end of the previous year; plus

(F) Reserves for loss adjustment expense at the end of the current year reported split between allocated loss adjustment expenses and unallocated loss adjustment expenses; minus

(G) Reserves for loss adjustment expense at the end of the previous year reported split between allocated loss adjustment expenses and unallocated loss adjustment expenses;

(5) Actual incurred expenses allocated separately to loss adjustment, commissions, other acquisition costs, general office expenses, taxes, licenses, fees, and all other expenses;

(6) Net underwriting gain or loss;

(7) Net operation gain or loss, including net investment income;

(8) Net investment gain on surplus, allocated to the lines as a percentage of the previous year's incurred losses;

(9) Federal income taxes paid, allocated to the lines as a percentage of earned premium; and

(10) Return on surplus with surplus allocated to the lines based upon earned premiums.