AZ| The Arizona Department of Insurance and Financial Institutions issued Regulatory Bulletin 2025-07 to clarify requirements and warn against common areas of noncompliance in the solicitation and sale of health insurance products. The bulletin highlights that all Arizona-licensed insurance producers must strictly adhere to recordkeeping requirements, avoid unauthorized enrollments or product misrepresentations, and ensure they only offer Department-approved insurance products. Violations, including inadequate records, enrolling consumers without clear consent, or selling unpermitted insurance products, will prompt administrative actions such as license suspension or revocation.
Main Issues:
- Arizona-licensed insurance producers must maintain thorough transaction records, including proof of consumer communications and consent for every policy sale or change.
- It is prohibited to enroll consumers in insurance policies without their direct consent or to misrepresent the nature or coverage of insurance products; doing so may result in license suspension or revocation.
- Only authorized and Department-approved health insurance products may be offered; selling unauthorized products or using misleading consent forms is a violation of Arizona law.
