HB2232 Summary

• Amends Arizona Revised Statutes Section 20-1674 regarding insurance policy cancellation procedures and unearned premium refunds for commercial insurance.

• Requires insurers to provide written notice of cancellation via mailed certified mail or first class mail with tracking methods approved by the United States Postal Service at least 45 days before cancellation becomes effective (10 days for nonpayment).

• Permits unearned premium refunds to be mailed separately from the cancellation notice, provided both are sent within the time frames established in the notice requirements.

• Specifies that if a premium has been financed, unearned premium refunds must be handled according to Arizona Revised Statutes Section 6-1416.