commerce; 2024-2025

This bill establishes a revolving fund for the Arizona Department of Insurance and Financial Institutions to finance investigations into insurance fraud and civil penalties recovered by the state. It creates a dedicated fraud unit within the department staffed by investigators who possess peace officer powers, allowing them to conduct searches, issue subpoenas, and enforce laws while working alongside the Department of Public Safety. The legislation also mandates that insurers report suspected fraudulent claims to the director for review and enables the sharing of confidential fraud data with other state, federal, and international law enforcement agencies. Additionally, the bill sets specific rules for handling recovered funds, requiring amounts exceeding a certain threshold to be transferred to a separate receivership fund.