Arizona Revised Statutes Title 12. Courts and Civil Proceedings § 12-593. Duties of the director of the department of insurance and financial institutions and insurance companies

1. For determining which insurers and assignees are financially qualified to provide and maintain the funding required under this article and to be designated as qualified insurers.

2. To require insurers to provide and maintain funding under § 12-587 if required by court order.

3. For publishing and revising a list of persons who have been designated by the director as qualified insurers.

1. Have at least an “A+” (superior) rating and a financial size category of VIII in the current edition of Best insurance reports as published by A. M. Best company.

2. Have no more than one ratio falling outside the usual range according to the current ratio published by the national association of insurance commissioners insurance regulatory information system.

3. Be licensed to do business in a state that has an applicable insurance guaranty fund of at least $100,000.

4. Meet any other standards that the director deems necessary to assure that funding will be provided and maintained. A qualified insurer may be a subsidiary of a parent insurance company if the parent insurance company qualifies as a qualified insurer and guarantees the obligation of the subsidiary.