The moment last year that Arkansas voters approved the use of medical marijuana, Paul Dunn knew he wanted to sell insurance for the industry. But it won’t be easy. The federal government still considers marijuana illegal.
Arkansas Insurance Commissioner Allen Kerr is pushing for more companies to start captive insurance subsidiaries, which can write insurance only for its parent or related companies, and locate them in Arkansas.
The Affordable Care Act has been a mixture of good and bad news for Arkansas, but the state’s unique approach to expanding Medicaid has resulted in a different experience from that making national headlines.
Arkansas Insurance Department spokesman Ryan James said the department asked Nabholz to run some numbers “for informational purposes.” No bids or proposals were sought and no payment made for the one-page estimate dated April 25.
The favorable treatment that Arkansas Insurance Commissioner Allen Kerr received from his predecessor, Jay Bradford, in a 2011 dispute with Farmers Insurance Group has been criticized in court documents by another former insurance commissioner, Mike Pickens.
For more than 30 years, Allen Kerr was one of Farmers Insurance Group’s most productive agents in Arkansas. That changed on Halloween 2011, when Farmers, of Grand Rapids, Michigan, terminated its relationship with Kerr and his Allen W. Kerr Insurance Agency Inc. of Little Rock.
The effect of the “private option” — Arkansas’ use of federal Medicaid expansion funding to buy private health insurance for the working poor — is written all over this year’s list of the state’s largest health insurance companies.
A legal case between Dr. Eren Erdem and Dr. Scott Schlesinger serves as a cautionary tale about the importance of having a contract in place and how quickly a friendship can sour when money is involved.
A sham transfer gutted the reserves of the four-decades-old Old Southwest of Jacksonville and made Arkansas a minor player in a scandal that has broadened to include $350 million in missing insurance assets, ensnared Catholic charities tied to the Vatican and spawned an international manhunt.