On December 4th, 2020 the Arizona Department of Insurance issued Regulatory Bulletin 2020-06, which provided regulatory guidance on certain rule/rate practices related to motor vehicle insurance premiums and the use of historical accident data pursuant to ARS § 20-263.
The Arizona Department of Insurance wishes to remind all property and casualty insurers that updated PPA Rate/Rule filings, compliant with ARS § 20-263, must be submitted by or before April 1, 2021. Additionally, modified rates and/or rules should be implemented to as soon as practicable, but no later than September 1, 2021.
For more details relating to these extension periods, please review the Bulletin HERE.
Westmont Associates, Inc. handles compliance matters for all facets of Property and Casualty insurance, including SERFF filings. Please contact us for any questions regarding our services.