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Arizona Revised Statutes Title 20. Insurance § 20-400.03. Penalties

Current as of January 01, 2025 | Updated by Findlaw Staff

If the director finds after a hearing that the insurer has knowingly, or with such frequency as to indicate a general business practice, violated the provisions of § 20-400.01 with respect to a particular class or that an insurer examined under § 20-400.02 has not complied with §§ 20-356 and 20-357 or 20-384 and 20-385, he may, in addition to or in lieu of the penalties provided in § 20-397, do the following:

1. Impose a civil penalty equal to the difference between the premium charged and that which would have been charged without the application of inadequately justified adjustments if a refund pursuant to paragraph 3 of this section has not been ordered.

2. Suspend the insurer's authority to do business in any given class.

3. Require applicable refunds to policyholders.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-400.03. Penalties - last updated January 01, 2025 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-400-03/

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