Arkansas Insurance Fraud Laws
Created by FindLaw's team of legal writers and editors | Last reviewed June 20, 2016
This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw’s team of legal writers and attorneys and in accordance with our editorial standards.
The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area.
When false statements or intentional misrepresentations are made in order to improperly obtain a benefit from an insurance policy then insurance fraud has been committed. This particular type of fraud generally occurs when an insured individual submits a fraudulent claim for a loss that didn't actually occur, or exaggerates the extent of a loss that was suffered. However, insurance fraud can also be committed by offenders who sell bogus insurance policies to consumers. The following chart highlights Arkansas' main insurance fraud laws.
|Arkansas Code section 23-66-501 through 23-66-513: Fraudulent Insurance Acts Prevention|
Committing a "fraudulent insurance act."
A fraudulent insurance act means an act or omission committed by a person who, knowingly and with the intent to defraud, deceive, conceal, or misrepresent does any of the following:
Class D felony. Punishable by imprisonment for up to six years, and/or a fine of up to $10,000 (per violation).
Offenders are also ordered to pay restitution to the victims of their crime.
Under Arkansas' insurance fraud laws, anyone who is engaged in the insurance business who has knowledge (or a reasonable belief) that a fraudulent insurance act is being, will be, or has been committed is required to report the alleged fraud to the Insurance Commissioner. Failure to do so constitutes a Class A misdemeanor that is punishable by imprisonment for up to one year and/or a fine of up to $15,000.
State laws change frequently. For case specific information regarding Arkansas' insurance fraud law contact a local criminal defense attorney.
You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.
Next Steps: Search for a Local Attorney
Contact a qualified attorney.