The proposed bill, HB2609, amends existing Arizona law to allow insurers who have overpaid fees for motor vehicle liability insurance policies to request a refund. Insurers must submit a written request for the refund to the Automobile Theft Authority (ATA) within one year of the overpayment and provide satisfactory documentation to substantiate the claim. The Director of the Department of Insurance and Financial Institutions (DIFI) is responsible for approving or denying these refund requests and must issue refunds from the Automobile Theft Authority Fund if approved.

Additionally, the bill grants the Director the authority to audit insurers for compliance with fee collection requirements, with the costs of such audits borne by the insurers. It also includes a provision that allows claims initiated by insurers in 2023 to be approved until December 31, 2024, provided that the necessary documentation is submitted. This amendment aims to streamline the refund process and ensure compliance while providing a clear timeline for insurers to claim refunds.

Statutes affected:
Introduced Version: 41-3453
House Engrossed Version: 41-3453
Senate Engrossed Version: 41-3453
Chaptered Version: 41-3453