The Arkansas Insurance Department and its 160 employees are dedicated to consumer protection and ensuring the smooth operation of the state’s insurance industry. Led by Chief Deputy Insurance Commissioner Russ Galbraith, the department has various divisions responsible for insurance regulation and internal services.

One of the department’s focuses is guaranteeing the solvency of insurance companies and combating insurance fraud. The Consumer Services Division helps Arkansas residents with insurance-related issues and recovered $6 million for individuals last year.

Another important function is licensing insurance agents and producers operating within Arkansas. In 2022, the department licensed over 200,000 insurance producers and adjusters, as well as more than 12,000 business entities.

Efficiently managing finances, the department collected over $486 million in taxes and fees during the 2023 fiscal year, with operating costs of $11.5 million.

The department’s Accounting Division oversees fee collection, budget development, and accounts payable for the agency. The Finance Division ensures insurers’ solvency by employing skilled examiners and accountants.

To combat insurance fraud, the Criminal Investigation Division investigates fraud complaints and targets various types of fraudulent activities. In the fiscal year 2023, they investigated 538 fraud complaints, resulting in 91 convictions.

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