The proposed bill, if enacted, would amend the Arizona Standard Fire Policy by introducing new requirements for wildfire risk modeling specifically for municipalities with populations under 150,000. It mandates that insurers utilize a rating plan that considers a municipality's mitigation designation, reflecting reduced wildfire risk associated with areas recognized as Firewise USA sites. Additionally, the bill defines "wildfire risk model" and outlines its use in classifying individual structures and estimating potential losses based on wildfire risk.

Furthermore, the bill clarifies conditions under which a policy may be canceled or not renewed, including stipulations that a condition not present on the premises cannot be a reason for nonrenewal. It also specifies that any declination of insurance coverage or termination of a binder cannot be based on consumer report information that is older than 60 days. These updates aim to enhance the accuracy and fairness of fire insurance policies in relation to wildfire risks.

Statutes affected:
Introduced Version: 20-1503, 20-1652
House Engrossed Version: 20-1503, 20-1652