The Arizona Senate unanimously approved a bill that would create an account within the Property and Casualty Insurance Guaranty Fund of the Department of Insurance to pay for insolvent carrier claims.The Senate voted 30-0 on March 4 to pass Senate Bill 1181 by Sen. Steve Yarbrough, R-Chandler, which would move $222.8 million from the Industrial Commission's existing Special Fund into the Workers' Compensation Insurance Account within the guaranty fund. The bill states money in the Workers' Compensation Insurance Account can only be used to pay claims and can't be moved into oth...
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