Bill > HB2819

This bill introduces two new sections to Arizona's insurance laws that aim to increase transparency and regulate residential property insurance practices. The first section (20-123) requires the insurance department to annually compile and publicly post detailed information about residential property insurers, including policy premiums, number of insureds by zip code, reinsurance denials, policy lapses, insurance claims paid (including those after appeals), fire rating scores with corresponding premium rates, and total premiums collected. The bill defines residential property insurance broadly to include fire insurance policies, allied lines insurance, and personal property coverage under homeowner's policies. The second section (20-391.01) mandates that residential property insurance companies file their underwriting guidelines with the department, updating them whenever changes occur. These guidelines must be actuarially justified, reasonable, and non-discriminatory. The bill also provides a detailed definition of "underwriting guidelines" as any rules or standards used by insurers to accept or reject insurance applications or classify risk. Together, these provisions seek to promote greater transparency, fairness, and accountability in residential property insurance in Arizona.