House Approves Premium Credit for Association Members

The Arizona House of Representatives passed a bill that would allow carriers to offer a premium credit to policyholders belonging to a trade association. The House on Thursday voted 58-0 to pass HB 2204, by Rep. David Livingston, R-Peoria. Arizona law generally requires carriers to adhere to rate filings made by the National Council on Compensation Insurance and approved by the state Department of Insurance and Financial Institutions. However, carriers are allowed to file up to six uniform percentage deviations that increase or decrease the statewide rate portion of the NCCI filing, or they ...