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Insurance Department Sends Assessment Notices

Wednesday, July 5, 2017 | 365 | 0 | 0 min read

The Arizona Department of Insurance on Monday sent assessment notices to carriers licensed to operate in the state. The department is assessing carriers $1,050 — the maximum allowed by law — to finance operations of its fraud unit. The fraud unit assessment appears to be the only item charged to all carriers in the more than 1,700 assessment letters sent out on Monday. Some carriers, including Copperpoint Mutual Insurance Co., are also being assessed to pay for the financial surveillance fund, which reviews records, accounts and transactions of admitted insurers. Financ...

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