Full and Final Settlements Allowed Starting Friday

Starting Friday, Arizona insurers and claimants can enter into “full and final” settlements on accepted claims. While the Arizona Industrial Commission must still bless the settlements, it can no longer consider whether the settlement is in the best interest of the claimant, but rather must authorize settlements if all required disclosures are made to claimants. Insurers hope that implementation of Senate Bill 1100 will allow them to reach irrevocable and unassailable final settlements, wiping old cases off the books and reserves. “It’s a win-...