Section 23-62-112 - Family leave insurance - Purpose - Definition(a) The purpose of this section is to create a new line of insurance, known as "family leave insurance", to allow an insurer licensed to transact accident and health or life insurance business in this state to issue an insurance policy covering the risk of family leave.(b) As used in the Arkansas Insurance Code, "family leave insurance" means an insurance policy that is issued to an employer related to a benefit program that is provided to an employee to pay for a percentage or portion of the employee's income loss due to: (1) The birth of the employee's child or adoption of a child by the employee;(2) The placement of a foster child in the home of the employee;(3) The care of the employee's family member who has a serious health condition; or(4) Circumstances arising because the employee's family member, who is a service member, is on active duty or has been notified of an impending call or order to active duty.(c) Family leave insurance may be:(1) Written as: (A) An amendment or rider to a group disability income insurance policy; or(B) A separate group insurance policy purchased by an employer; or(2) Included in a group disability income insurance policy.(d) An insurer that is authorized to transact accident and health or life insurance business in this state may issue family leave insurance in this state.Added by Act 2023, No. 84,§ 1, eff. 8/1/2023.