insurance; modeling organizations; predictive models

Summary

The bill defines and regulates entities that create predictive models used in insurance rate filings. Before an insurer can use a model in Arizona, the modeling organization must file its charter, bylaws, contact information, and the insurance types covered with the state insurance director, who must approve the model. Approved models are kept confidential and the law prohibits modeling organizations from engaging in unfair practices.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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