HB1811

House Bill 1811 amends Arkansas property and casualty insurance law to mandate that policyholders provide reasonable proof of payment of their insurance deductibles before they can recover withheld depreciation or replacement cost holdbacks. The bill defines 'reasonable proof of payment' to include documents such as canceled checks, credit card statements, money order receipts, or executed installment plan contracts. It explicitly establishes that failing to pay a deductible, waiving a deductible, or offering a rebate in lieu of a deductible constitutes a fraudulent insurance act. Insurers are granted the authority to withhold replacement cost payments until the policyholder verifies the deductible has been paid. Individuals or entities violating these provisions are subject to the penalties outlined in the Arkansas Trade Practices Act.