Committee advances bill creating regulatory framework for online‑marketplace guarantees

Senate Bill 3‑29 would establish a statutory framework for online marketplaces that offer guarantees to consumers, sponsors told the House Insurance & Commerce Committee. Sponsor Senator Justin Boyd said the bill is intended to clarify when a marketplace guarantee is not insurance and to set registration, solvency and consumer‑protection requirements for providers of those guarantees.

Supporters and witnesses described common examples — short‑term rental platforms, peer‑to‑peer car sharing and similar services — and said Arkansas has case law suggesting some guarantees are not insurance but lacks a clear statutory framework. Brad Naderge, who described himself as representing public‑strategy clients, told the committee…