20-141. Director of the department of insurance and financial institutions; appointment; qualifications; compensation A. The governor shall appoint a director of the department of insurance and financial institutions pursuant to section 38-211. B. The director shall: 1. Serve at the pleasure of the governor. 2. Be a person with business experience, including being well versed […]
20-142. Powers and duties of director; payment of examination and investigation costs; home health services A. The director shall enforce this title. B. The director shall have powers and authority expressly conferred by or reasonably implied from the provisions of this title. C. The director may conduct examinations and investigations of insurance matters, including examinations […]
20-143. Rule-making power A. The director may make reasonable rules necessary for effectuating any provision of this title. B. The director shall make rules concerning proxies, consents or authorizations in respect of securities issued by domestic stock insurance companies having a class of equity securities held of record by one hundred or more persons to […]
20-144. Seal of office A. The director shall have a seal of office consisting of the shield as used in the great seal of the state of Arizona encircled by the words " director of the department of insurance and financial institutions, state of Arizona." B. Every certificate or license issued by the director shall […]
20-145. Evidentiary effect of certificate of authority When required, the director shall furnish his certificate as to the authority of any person to transact insurance, and such certificate shall be evidence of the facts set forth therein.
20-146. Supervisor A. The director shall appoint a supervisor of insurance rates. B. The supervisor of insurance rates shall be a person versed in insurance rating procedure and familiar with the operation of insurance companies and rating organizations. C. The supervisor shall be subject to removal for cause. D. The supervisor of insurance rates shall […]
20-147. Assistant director; chief examiner; appointment; qualifications A. The director shall appoint an assistant director and a chief examiner. B. The assistant director shall be experienced in the fields of life and disability and property and casualty insurance and the chief examiner shall have had at least five years’ experience as a full-time examiner for […]
20-148. Deputies and other employees; special services A. Subject to title 41, chapter 4, article 4, the director shall appoint such other deputies, assistants and clerks, as necessary properly to discharge the duties imposed upon the director under this title. B. The director may from time to time contract for and procure, on a fee […]
20-149. Prohibition on certain activities by employees; conflict of interest A. The director, or any deputy, examiner, assistant or employee of the director shall not be financially interested, directly or indirectly, in any insurer, agency or any entity regulated under this title except as a policyholder or claimant under a policy. As to such matters […]
20-150. Delegation of director’s authority A. Any power, duty or function, whether ministerial or discretionary, vested by this title in the director may be exercised or discharged by any deputy, assistant or examiner or by any other person designated by the director pursuant to section 20-148 acting in the director’s name and by his delegated […]
20-151. Issuance of orders and notices by director A. Orders and notices of the director are not effective unless the orders and notices are in writing and signed by the director or by the director’s authority. B. Every order of the director shall state its effective date and shall concisely state: 1. Its intent or […]
20-152. Enforcement A. If the director has cause to believe that a person has violated any penal provision of this title or other laws relating to insurance, and that prosecution of the person is advisable, he shall certify the facts of such violation to the attorney general, who shall bring and prosecute such action as […]
20-153. Records A. Records of all official transactions, examinations, investigations and proceedings of the department shall be open to public inspection pursuant to section 39-121, except as otherwise provided in this title. B. The director may destroy records pursuant to sections 41-151.15 and 41-151.19.
20-154. Annual report; list of authorized insurers A. As early in the calendar year as possible the director shall annually prepare a report for delivery to the commission, the governor and the legislature, showing, with respect to the preceding calendar year: 1. List of authorized insurers transacting insurance in this state, with such report of […]
20-155. Expenses of administration All salaries, compensation and other expenses involved in the operation of the office of the director shall not exceed the amount from time to time appropriated or otherwise made available therefor by the legislature, including travel expense incurred by the director, his deputies and assistants within or outside this state in […]
20-156. Examination of insurers; financial surveillance fund; definition A. The director shall examine the affairs, transactions, accounts, records and assets of each authorized insurer as often as the director deems advisable. The director shall so examine each domestic insurer at least once every five years. Examination of an alien insurer shall be limited to its […]
20-157. Access and powers relating to insurers’ records A. Every person being examined and its officers, employees, agents and representatives shall produce and make freely accessible to the director or the director’s examiners the accounts, records, documents, files, assets and matters in the person’s possession or control relating to the subject of the examination. B. […]
20-157.01. Confidentiality of insurer’s claim files and records; access by director; definition A. Pursuant to the director’s authority under sections 20-156, 20-157, 20-160, 20-466 and 20-3502, an insurer shall comply with a request to produce any documents, reports or other materials, whether maintained in written or electronic format, from an insurer’s claim file or an […]
20-158. Report of examinations by director; information sharing A. The director shall make a full written report of each examination. The director or the examiner in charge of the examination shall certify the report. B. The director shall provide a copy of the report to the person examined not less than ten days before filing […]
20-159. Insurance examiners’ revolving fund; definition A. The director may establish a separate fund designated as the insurance examiners’ revolving fund. B. The fund shall be used for the examination expenses authorized by section 20-156 and to compensate independent contractor examiners as authorized by section 20-148. Independent contractor examiners may be reimbursed or compensated for: […]
