AZ HB2482

Establishes the Interstate Insurance Product Regulation Compact in Arizona Title 20, Chapter 23, creating a multi-state commission to regulate insurance products for annuities, life insurance, disability income, and long-term care insurance.

Creates uniform standards for insurance products and advertisements developed by the commission that become binding on compacting states, with individual states able to opt out under specific conditions and findings that the standard does not protect their citizens.

Arizona opts out of all uniform standards involving long-term care insurance products, effective upon enactment.

Establishes the commission structure including a management committee with representatives from compacting states (weighted by market share), legislative committees, and consumer and industry advisory committees with authority to review and approve product filings.

Sets operational procedures for product filing and approval, dispute resolution among states, financing through insurer filing fees, and withdrawal or termination provisions that require a two-year notice period and continuation of previously approved products.