§ 23-79-101 - Definitions. - Arkansas Statutes

23-79-101. Definitions.

As used in this section and 23-79-102 -- 23-79-128, 23-79-131 -- 23-79-134, and 23-79-202 -- 23-79-210:

(1) "Policy" means the written contract of or written agreement for or effecting insurance, by whatever name called, and includes all clauses, riders, endorsements, and papers made a part thereof; and

(2) "Premium" is the consideration for insurance, by whatever name called. Any assessment, or any membership, policy, survey, inspection, service, or similar fee or charge in consideration for a policy is deemed part of the premium.