This Rule is issued under the authority vested in the Commissioner by Ark. Code Ann. § 23-61-108, the Arkansas Administrative Procedure Act, codified at Ark. Code Ann. §§ 25-15-201 et seq., and Ark. Code Ann. § 23-63-818, as amended by Act 496 of 2007. The information called for by this Rule is hereby declared to be necessary and appropriate in the public interest and for the protection of insurance consumers in this State.