This bill proposes to amend current statutes by adding a new section to Title 20, Chapter 2, Article 1 of the Arizona Revised Statutes. The new section, designated as 20-243, would establish that insurers have thirty days to review and respond to third-party settlement demands upon receipt. This timeframe is intended to ensure timely communication and resolution of claims, enhancing the efficiency of the insurance process.

Additionally, the bill specifies that the thirty-day review period begins on the date indicated by the postmark from the U.S. Postal Service or the date of a digital transmission (email or fax) if applicable. In cases where there is a dispute regarding compliance with this time limit, the insurer would be allowed to provide competent evidence to establish the date of receipt. Overall, these changes aim to clarify the obligations of insurers in handling third-party settlement demands while maintaining the integrity of existing laws.

Statutes affected:
Introduced Version: 20-243