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Auto insurance rates rising in Arkansas

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Auto insurance rates rising in Arkansas


JONESBORO, Ark. (KAIT) – Auto insurance rates are up across the country, especially in the Natural State.

The registration of over 2.7 million passenger vehicles in Arkansas is overseen by the Arkansas Department of Finance and Administration.

For those Arkansas drivers, getting behind the wheel could be costing them hundreds.

Millions drive each day to get home or to work, but making sure you are insured once you get behind the wheel is getting expensive.

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According to compliance rate change filing data with the Arkansas Insurance Department, a large portion of auto insurers recently filed increases.

All of the recent rate changes from insurance companies show increases ranging from 5% to nearly 20%.

“For private passenger auto, it was the highest among all major lines of business, it was a little over 80 percent nationally,” said Jimmy Harris, compliance director with the Arkansas Insurance Department.

Harris said they are constantly watching rate increases and it is causing concerns. He said insurance companies’ loss ratio in Arkansas is a major factor in the increase.

“From 2022 it was almost 94% loss ratio,” Harris said.

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The loss ratio amounts to how much companies paid out in relation to how much premium they received.

Insurance agencies are now working to help their customers offset the rising costs.

“Extraordinary times for the insurance market. In my 15 years, I’ve never seen anything it like this,” said Joseph Bailey, owner of Arkansas 1st Choice Insurance.

He said he can see the impact of the rise.

“We have a lot of insurers that will reach out to us, probably more than we have ever seen in the past, asking us for quotes to shop their insurance,” Bailey said.

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He said between inflation causing higher costs on repairs and weather events damaging vehicles companies are raising rates to adjust.

“With those rising costs, those go back to the insurance companies, and then the insurance companies have to offset it,” he said.

Now his team is going over coverage options with their customers and using options like increasing deductibles to help with the premium rate changes.

Harris explained another factor in the increase you could see on your next auto insurance bill is claim severity. The average cost of each claim for liability, collision, and property damage increased.

Out of the 2.7 million registered passenger vehicles in Arkansas, the uninsured rate in 2019 was at 16% according to Arkansas Department of Finance and Administration data.

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The rate is down to 8.7%. Department leaders credit that decrease to the online insurance verification system.



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Arkansas

Some Arkansas Veteran Affairs Department staff set to receive bonuses • Arkansas Advocate

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Some Arkansas Veteran Affairs Department staff set to receive bonuses • Arkansas Advocate


A panel of Arkansas lawmakers approved special compensation awards for maintenance workers at the Department of Veteran Affairs on Wednesday.

Current and incoming full-time maintenance staff at the Arkansas State Veterans Cemeteries, located in North Little Rock and Birdeye, and the Arkansas State Veterans Homes in North Little Rock and Fayetteville will be eligible for the $3,000 one-time awards, according to the request from the state’s Office of Personnel Management.

The Arkansas Legislative Council is expected to approve the measure Friday. The Uniform Personnel Classification and Compensation Plan Subcommittee gave approval with no debate or dissent.

The bonuses should “increase successful recruiting, and [lead to] better retention” of the employees in question, OPM Director Kay Barnhill wrote in the request to the subcommittee. Recruitment and retention of state employees has been a priority for state officials in recent months.

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In October, lawmakers approved $5,000 one-time bonuses as recruitment and retention measures for nurses who care for people with profound intellectual disabilities at seven state-run facilities. The cumulative totals for the one-time payments were projected to be $510,000 at the Human Development Centers, $467,000 at the Arkansas State Hospital and $283,000 at the Arkansas Health Center, according to the Arkansas Department of Human Services.

Barnhill said at the time that she expected an upcoming pay plan overhaul across all agencies to increase nurses’ pay. In November, Gov. Sarah Huckabee Sanders announced the overhaul, highlighting salary increases with double-digit percentages for the positions most difficult to fill. Besides nurses, those positions included correctional officers, social services employees and Arkansas State Police officers.

The pay plan restructure will require legislative approval. Barnhill told the Personnel Subcommittee on Wednesday that OPM is “putting the finishing touches on it right now” after feedback from state agencies.

OPM “can certainly work toward” finishing the plan and sending it to lawmakers before the legislative session begins on Jan. 13, Barnhill said in response to questions from Rep. Lane Jean, R-Magnolia, co-chair of the Joint Budget Committee.

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Suspect in Sawmeal Restaurant shooting killed in officer-involved shooting in Arkansas – WBBJ TV

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Suspect in Sawmeal Restaurant shooting killed in officer-involved shooting in Arkansas – WBBJ TV


December 7th, 2024 Adamsville, TN Shooting Update Press Release

📸: North Little Rock Police Department

On the date of December 7th, 2024, just after 4:00pm the Adamsville Police Department responded to the Sawmeal Restaurant located at 731 E Main Street in Adamsville, TN on the report of a gunshot injury that occurred in the parking lot. During the course of the investigation, APD was able to determine that the gunshot injury was directly correlated with an automobile theft that had occurred in the parking lot of the business. The actions and events surrounding that automobile theft included a use of force and intimidation, and the use and discharge of a firearm, in the perpetration of the crime. As a result, a 21-year-old male employee of the Sawmeal Restaurant suffered a single gunshot wound to the upper extremities. The victim was treated on the scene, stabilized by emergency medical services, and transported via aircraft to a medical facility for further treatment.

SEE ALSO: Adamsville Police investigating theft/shooting (12/7/24)

The Adamsville Police Department requested the assistance of the Tennessee Bureau of Investigation and immediately began to swiftly and diligently investigate this case. As a result of that investigation, we were quickly able to identify a suspect. On the following afternoon of December 8th, 2024, warrants for the arrest of the suspect in this case, Jeffery Lynn Marchbanks Jr., age 35, of Savannah, TN were obtained by the Adamsville Police Department for numerous felony charges to include Criminal Conspiracy to Commit Attempted First-Degree Murder and Carjacking. The Adamsville Police Department, the Tennessee Bureau of Investigation, and the United States Marshals Service immediately began to work collaboratively to identify the whereabouts of Jeffery Marchbanks Jr. to bring him into custody.

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Participating agencies were quickly able to identify that Mr. Marchbanks had fled the State of Tennessee and was not currently a threat locally. Based on the information gathered, the Adamsville Police Department, Tennessee Bureau of Investigation, and United States Marshals Service began collaborating with Arkansas State Police and the Little Rock Police Department to locate Mr. Marchbanks in the State of Arkansas. On the afternoon of 12/17/2024 APD was notified by North Little Rock PD that Mr. Marchbanks had been fatally wounded in an officer involved shooting in North Little Rock, AR after reportedly attempting to commit an armed robbery at a gas station in North Little Rock. The victim in our case was notified immediately by APD of the circumstances surrounding the incident in North Little Rock, AR. At this time, the case relating to the shooting at Sawmeal Restaurant is considered closed by APD.

I would like to take time to say “thank you” to APD Detective JP Kellum and our staff, the Tennessee Bureau of Investigation, the United States Marshals Service, and the 25th Judicial District Attorney’s Office for their exhaustive efforts, diligent work, and partnership on this case. Senseless, violent crime will not be tolerated in our community, and we will, as always, continue to work tirelessly to ensure that our community remains a safe place for our citizens and our visitors.

For more local crime stories, click here.





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Arkansas president electors cast votes for Trump, Vance

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Arkansas president electors cast votes for Trump, Vance


LITTLE ROCK, Ark. (KAIT/KARK) – Arkansas presidential electors cast their ballots for President and Vice President-elect of the United States on Tuesday.

According to content partner KARK, the six votes went to President-elect Donald Trump and Vice President-elect J.D. Vance. The six electors who cast votes represented the Republican Party of Arkansas.

You can read more on KARK’s website.

To report a typo or correction, please click here.

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