Ariz. Admin. Code § 18-12-307

Current through Register Vol. 30, No. 45, November 8, 2024

Section R18-12-307 - Insurance and Risk Retention Group Coverage

A. Owners and operators may satisfy the requirements of R18-12-303 by obtaining liability insurance that conforms to the requirements from a qualified insurer or risk retention group. Such insurance may be in the form of a separate insurance policy or an endorsement to an existing insurance policy.

B. Each insurance policy shall be amended by an endorsement worded as specified in 40 CFR 280.97(b)(1) amended as of October 13, 2015, or evidenced by a certificate of insurance worded as specified in 40 CFR 280.97(b)(2), amended as of October 13, 2015, except that instructions in brackets shall be replaced with the relevant information and the brackets deleted. Termination under 40 CFR 280.97(b)(1) and (2) as referenced in this Section means only those changes that could result in a gap in coverage as where the insured has not obtained substitute coverage or has obtained substitute coverage with a different retroactive date than the retroactive date of the original policy.

C. Each insurance policy shall be issued by an insurer or a risk retention group that, at a minimum, is licensed to transact the business of insurance or eligible to provide insurance as an excess or surplus lines insurer in one or more states.

Ariz. Admin. Code § R18-12-307

Adopted effective September 21, 1992 (Supp. 92-3). Amended effective July 30, 1996 (Supp. 96-3). Amended by final rulemaking at 25 A.A.R. 3123, effective 10/1/2020.