Bill > SB1561

This bill makes technical corrections to Arizona's insurance laws regarding uniform plans for workers' compensation insurance. The bill modifies Section 20-344 to clarify language around statistical plans and classification plans used by rating organizations and insurers. Specifically, the bill allows rating organizations to use their own statistical plans as long as they do not materially conflict with the state's uniform statistical plan, and requires that such plans be filed with and approved by the state director. The bill also permits insurers to develop subclassifications of the uniform classification plan, with the requirement that these subclassifications and their associated rates be filed with the director and subject to a 15-day waiting period before becoming effective. The director retains the authority to disapprove subclassifications that do not meet reporting consistency standards or fail to meet established rate standards. These changes appear to provide more flexibility for insurers while maintaining regulatory oversight of workers' compensation insurance classification and rating practices.

https://apps.azleg.gov/BillStatus/BillOverview/82999