AZ SB1119

Allows foreign insurers holding certificates of authority in other states to issue health and sickness insurance in Arizona if they maintain financial reserves equal to or greater than Arizona's requirements and are subject to their home state's insurance department jurisdiction.

Requires foreign insurers to register with Arizona's Department of Insurance before issuing policies and prohibits them from including mandated health coverage benefits required under Arizona law if not included in policies sold in their home state.

Mandates that foreign insurers include prominent written notice on all policies informing customers that the policy is governed by the issuing state's laws, not Arizona's, and must list all Arizona-mandated benefits not included in the policy.

Authorizes the director to revoke a foreign insurer's registration if their home state reduces financial reserves below Arizona's requirements, repeatedly enforces penalties for claim denials or deceptive practices, or if the insurer experiences regulatory action level events.

Applies existing Arizona insurance regulations including consumer protection standards, utilization review requirements, claim adjudication rules, and health care appeals processes to foreign insurers operating under this provision.