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Arizona Revised Statutes Title 20. Insurance § 20-488.06. Hearings

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

A. An insurer has the right to a hearing to challenge any determination or action made or taken by the director on the occurrence of any of the following:

1. The notification by the director to the insurer of an adjusted RBC report.

2. The notification by the director to the insurer that both:

(a) The insurer's RBC plan or revised RBC plan is unsatisfactory.

(b) The notice constitutes a regulatory action level event with respect to the insurer.

3. The notification by the director to the insurer that the insurer has failed to adhere to its RBC plan or revised RBC plan and that the insurer's failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan.

4. The notification by the director to an insurer of a corrective order.

B. The underlying decision or action that is the subject of any notification made by the director pursuant to subsection A of this section is an appealable agency action as defined in § 41-1092.

C. A hearing demanded by an insurer that is aggrieved by a decision or an action by the director pursuant to subsection A of this section is closed to the public, unless a principal party to the hearing requests the hearing to be open to the public pursuant to § 20-164, subsection A.

D. The insurer shall request a hearing within five days after receiving notice by the director under subsection A of this section. On receipt of the request for a hearing, the director shall set a date for the hearing at least ten days but not more than thirty days after the date of receipt of the request.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 20. Insurance § 20-488.06. Hearings - last updated January 01, 2025 | https://codes.findlaw.com/az/title-20-insurance/az-rev-st-sect-20-488-06/

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