Arkansas § 23-67-404 Definitions

Arkansas Statutes

§ 23-67-404 — Definitions

Arkansas § 23-67-404

Title23

This text of Arkansas § 23-67-404 (Definitions) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-67-404 (2026).

Text

For the purposes of this subchapter:

(1)"Adverse action" means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of any insurance, existing or applied for, in connection with the underwriting of personal insurance;

(2)"Affiliate" means any company that controls, is controlled by, or is under common control with another company;

(3)"Applicant" means an individual who has applied to be covered by a personal insurance policy with an insurer;

(4)"Consumer" means an insured whose credit information is used or whose credit score is calculated in the underwriting or rating of a personal insurance policy or an applicant for the policy;

(5)"Consumer reporting agency" means any person who for mone

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For the purposes of this subchapter: (1) "Adverse action" means a denial or cancellation of, an increase in any charge for, or a reduction or other adverse or unfavorable change in the terms of coverage or amount of any insurance, existing or applied for, in connection with the underwriting of personal insurance; (2) "Affiliate" means any company that controls, is controlled by, or is under common control with another company; (3) "Applicant" means an individual who has applied to be covered by a personal insurance policy with an insurer; (4) "Consumer" means an insured whose credit information is used or whose credit score is calculated in the underwriting or rating of a personal insurance policy or an applicant for the policy; (5) "Consumer reporting agency" means any person who for monetary fees, dues, or on a cooperative nonprofit basis regularly engages, in whole or in part, in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports to third parties; (6) (A) "Credit information" means any credit-related information derived from a credit report or found on a credit report itself. (B) Information that is not credit-related shall not be considered "credit information" regardless of whether it is contained in a credit report or in an application or is used to calculate a credit score; (7) (A) "Credit report" means any written, oral, or other communication of information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, or credit capacity that is used or expected to be used or collected, in whole or in part, for the purpose of serving as a factor to determine personal insurance premiums, eligibility for coverage, or tier placement. (B) Loss history reports and driving history reports are not considered to be credit reports; (8) "Credit score" means a number or rating that is derived from an algorithm, computer application, model, or other process that is based solely on credit information for the purpose of predicting the future insurance loss exposure of an individual applicant or insured; and (9) "Personal insurance" means private passenger automobile, homeowners, motorcycle, mobile home owners, noncommercial dwelling fire insurance, noncommercial farm owners, boat, personal watercraft, snowmobile, and recreational vehicle policies.