An insurer transacting credit property insurance in this state shall annually file with the director and the national association of insurance commissioner’s a report of credit property insurance written on a calendar year basis. The report shall use the credit insurance supplement annual statement blank approved by the commissioners, and shall contain data separately for each state, rather than an allocation of the company’s countrywide experience. The filing shall be made in accordance with and no later than the due date in the instructions to the annual statement.

Terms Used In Arizona Laws 20-1621.06

  • Credit property insurance: means a policy of insurance that covers perils to goods purchased through a credit transaction or used as collateral for a credit transaction and that concerns a creditor's interest in the purchased goods or pledged collateral either in whole or in part. See Arizona Laws 20-1621.01
  • Experience: means earned premiums and incurred losses during the experience period. See Arizona Laws 20-1621.01
  • Property: includes both real and personal property. See Arizona Laws 1-215