AZ SB1333

Repeals and replaces existing section 23-941.01 of Arizona Revised Statutes regarding workers' compensation claim settlements.

Allows interested parties to settle and release all or part of a workers' compensation claim, including negotiating full and final settlements.

Requires full and final settlements to be in writing, signed by the carrier/self-insured employer and the employee or authorized representative, and include attestation that the employee understands the rights being settled.

Prohibits full and final settlements from being valid unless approved by the commission, and requires lump sum settlement payments be made to the employee within 15 days after the award becomes final.

Bars full and final settlements for claims resulting in total and permanent disability under section 23-1045, subsections C and D.