JurisdictionArizonaTitle 20Arizona Revised Statutes
Ch. 2TRANSACTION OF INSURANCE BUSINESS
Art. 4.Compliance With Filed Rates
This text of Arizona § 20-400.03 (Penalties) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
If the director finds after a hearing that the insurer has knowingly, or with such frequency as to indicate a general business practice, violated the provisions of section 20-400.01 with respect to a particular class or that an insurer examined under section 20-400.02 has not complied with sections 20-356 and 20-357 or 20-384 and 20-385, he may, in addition to or in lieu of the penalties provided in section 20-397, do the following:
1.Impose a civil penalty equal to the difference between the premium charged and that which would have been charged without the application of inadequately justified adjustments if a refund pursuant to paragraph 3 of this section has not been ordered.
2.Suspend the insurer's authority to do business in any given class.
3.Require applicable refunds to poli
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If the director finds after a hearing that the insurer has knowingly, or with such frequency as to indicate a general business practice, violated the provisions of section 20-400.01 with respect to a particular class or that an insurer examined under section 20-400.02 has not complied with sections 20-356 and 20-357 or 20-384 and 20-385, he may, in addition to or in lieu of the penalties provided in section 20-397, do the following:
1. Impose a civil penalty equal to the difference between the premium charged and that which would have been charged without the application of inadequately justified adjustments if a refund pursuant to paragraph 3 of this section has not been ordered.
2. Suspend the insurer's authority to do business in any given class.
3. Require applicable refunds to policyholders.