SB483

Senate Bill 483 proposes to repeal and revise several reporting requirements currently imposed on the Arkansas State Insurance Department and the State Securities Department. The bill removes the requirement for the State Securities Department to submit quarterly reports regarding funds received through court orders or settlement agreements. It repeals the mandate for an annual report on health insurance fraud and an annual report from the Administrator of the Risk Management Division. Additionally, the bill modifies the reporting structure for the Arkansas Health Insurance Marketplace assessments, the Arkansas Workers' Compensation Insurance Plan, and reporting related to Wendelyn's Craniofacial Law. The legislation aims to streamline administrative obligations by consolidating or eliminating specific legislative reporting duties for these departments.