Except as otherwise provided in Section 20-1098.01, subsection B for a self-insurance program approved under section 23-961, a captive insurer shall not join or contribute financially to any plan, pool, association or guaranty or insolvency fund in this state. A captive insurer or its insured, a parent, an affiliate, group members, a member organization of an association or a claimant under any captive insurance shall not receive any benefit from the plan, pool, association or guaranty or insolvency fund for claims arising out of the operations of the captive insurer.

Terms Used In Arizona Laws 20-1098.13

  • Association: means any lawfully formed association of individuals or business entities that has been in existence for at least one year and that is organized for a primary purpose other than procuring or providing insurance for its members. See Arizona Laws 20-1098
  • Captive insurer: means any pure captive insurer, agency captive insurer, group captive insurer or protected cell captive insurer that is domiciled in this state and that is formed and licensed under this article. See Arizona Laws 20-1098
  • Member: means any individual or business entity that belongs to a group captive insurer. See Arizona Laws 20-1098

 

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