NALF-128789853 - Arkansas Insurance Department - State of - insurance arkansas 2025

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Florida and California have seen a mass exodus of insurance companies, but they are not the only states insurance companies are pulling out of. Homeowners in Massachusetts, Louisiana, Colorado, Minnesota, Arkansas, Nebraska and Oklahoma may also struggle to find a policy.
The shift is part of plans to pull back in Arkansas, California, Colorado, Louisiana, Minnesota, Oklahoma, South Carolina, South Dakota and Washington, according to a company official. American National said it is working with their agents to look into options for clients in the affected regions.
The convergence of several factors has created what industry experts are calling an insurance crisis in Arkansas. Climate change has fundamentally altered the risk landscape, with the National Weather Service reporting 30 tornadoes in Arkansas in 2023 and 40 in 2022.
State insurance regulators are the primary regulators of the insurance sector. They are responsible for ensuring that insurance companies are able to pay claims when consumers have an insured loss and that insurance consumers are treated fairly.
The insurance company plans to pull out of Arizona, Arkansas, Connecticut, Idaho, Kansas, Maine, Michigan, Montana, North Carolina, Oklahoma, Oregon, Rhode Island, South Carolina, Virginia, and Wisconsin.

People also ask

Arkansas Medicaid is a health program managed by the State of Arkansas and jointly funded by State and federal dollars. The Arkansas Department of Human Services (DHS) administers the Arkansas Medicaid program.
The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence.
Several big insurance companies are pulling out of Arkansas because we are considered ``high risk due to storm damage. This is causing a huge rise in insurance rates across the board for the state. Its the same thing thats happening to Florida right now.