Arizona Revised Statutes Title 20. Insurance § 20-485.03. Maintenance of records;  access;  confidentiality;  information sharing;  examination

A. Every administrator shall maintain at the administrator's principal administrative office for the duration of the written agreement required by § 20-485.01 and for five years thereafter adequate books and records of all transactions among the administrator, insurers and insured persons.  The books and records shall be maintained in accordance with prudent standards of insurance record keeping.

B. The director shall have access to books and records maintained by the administrator for the purpose of examination, audit and inspection.  Any trade secrets contained in the books and records, including the identity and addresses of policyholders and certificate holders, shall be confidential, except the director may use the information in any proceedings instituted against the administrator.

C. The director may:

D. A disclosure to or by the director pursuant to this section or as a result of sharing information pursuant to subsection C of this section is not a waiver of any applicable privilege or claim of confidentiality in the documents, materials or other information disclosed or shared.

E. The insurer retains the right of continuing access to books and records maintained by the administrator sufficient to permit the insurer to fulfill all of its contractual obligations to insured persons, subject to any restrictions in the written agreement between the insurer and administrator on the proprietary rights of the parties in such books and records.

F. The director may require an administrator to provide, on a quarterly basis in a form acceptable to the director, additional information that is necessary for the protection of the public.

G. The director may examine the business practices, books and records of any administrator as often as the director deems appropriate.  The administrator shall pay the cost of only one examination each year.