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AZ HB2279
Bill
Status
5/2/2017
Primary Sponsor
David Livingston
Click for details
AI Summary
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Amends section 20-265 to require the Department of Insurance to compile comparisons of premiums and fees charged at policy inception (not just premiums) for motor vehicle insurance policies insuring six or fewer vehicles, along with complaint ratios.
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Modifies section 20-381 to expand the definition of "supplementary rate information" to include membership fees charged by reciprocal or mutual insurers.
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Revises section 20-465 to allow insurance producers to charge fees for services not customarily provided in insurance transactions if the services are disclosed and agreed to in writing by the insured and the fee is reasonably related to the cost of services rendered.
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Prohibits insurance producers from charging fees in connection with life, annuity, long-term care, or Medicare supplement insurance transactions.
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Clarifies that the fee restrictions apply only to insurance producers (not insurers) and do not apply to commercial insurance or surplus lines brokers.
Legislative Description
Insurance; fees; insurance producers
Insurance
Last Action
Chapter 251
5/2/2017