Arizona Laws 20-1492. Group excess liability insurance; eligible groups
A. An authorized insurer or an unauthorized insurer as provided in chapter 2, article 5 of this title may offer group excess liability insurance in this state. An authorized insurer that issues a group excess liability insurance policy in this state shall file the group policy and the certificate of insurance forms with the department pursuant to section 20-398 but is exempt from the requirements of section 20-385. The terms of the certificate of insurance shall be consistent with the terms of the group excess liability insurance policy pursuant to which the certificate of insurance is issued.
Terms Used In Arizona Laws 20-1492
- Certificate of insurance: means the certificate of insurance, evidence of coverage or other summary of coverage that is issued to each certificate holder under a group excess liability insurance policy. See Arizona Laws 20-1491
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- department: means the department of insurance and financial institutions. See Arizona Laws 20-101
- Excess liability insurance: means liability insurance, as prescribed in section 20-252, paragraph 1, that provides excess coverage after the certificate holder's primary liability insurance limits have been exhausted. See Arizona Laws 20-1491
- Excess uninsured or underinsured liability: means damages for bodily injury, personal injury or property damage that the certificate holder or an immediate family member of the certificate holder is legally entitled to receive from an uninsured or underinsured negligent person. See Arizona Laws 20-1491
- Group excess liability insurance: means excess liability insurance that is issued on a group basis and that covers groups of persons as prescribed in this article. See Arizona Laws 20-1491
- Group policyholder: means those groups identified in section 20-1492, subsection D to which a group excess liability insurance policy may be issued. See Arizona Laws 20-1491
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
B. An insurer may issue or deliver a group excess liability insurance policy and certificate of insurance in this state only pursuant to this article. In addition to excess liability coverage, a group excess liability insurance policy may also provide excess uninsured motorist, excess underinsured motorist and excess uninsured or underinsured liability coverage to certificate holders. The terms and conditions for any excess uninsured motorist coverage and excess underinsured motorist coverage provided under the group policy shall comply with this title.
C. Notwithstanding subsection B of this section, a group excess liability insurance policy may provide coverage for excess uninsured motorist or underinsured motorist coverage in amounts that exceed the limits set forth in Section 20-259.01.
D. An insurer may issue a group excess liability insurance policy to an employer that insures one or more employees of the employer. For the purposes of this subsection:
1. "Employees" include:
(a) The officers, directors, managers and employees of the employer.
(b) The partners if the employer is a partnership.
(c) The officers, managers and employees of a subsidiary or any affiliated corporations, companies, limited liability companies, firms or partnerships.
(d) The members of the employee’s immediate family.
2. "Employer" includes any type of corporation, company, firm, limited liability company and partnership.
E. An insurer may establish underwriting criteria for the group policyholder and certificate holders that apply at issuance and renewal of the group policy and the certificate of insurance. Insurers shall treat all eligible groups of the same class in a like manner.
F. Nothing in this article shall apply to or otherwise prohibit the issuance of commercial excess liability insurance policies that provide coverage to one or more named insureds and its owners, employees, contractors, agents or representatives under a single limit of insurance. For the purposes of this subsection, "commercial" means insurance that insures against the risks arising from business and commercial activity.