Arizona: premium trust account rules
What Arizona requires of insurance producers holding premium funds, and what happens when those funds are diverted.
Citation
§§ 20-311.02; 20-295
Source chart last reviewed this jurisdiction: 2/25
What the jurisdiction requires
Managing general agent shall hold in a fiduciary capacity all monies that are collected for the account of an insurer.
Penalties for diversion
The director may deny, suspend, revoke or refuse to renew a producer’s license or may impose a civil liability or any combination of the above for improperly withholding, misappropriating or converting any money received during the course of business.
This reference is not legal advice. Citations and summaries are transcribed from the NAIC's Fiduciary Responsibilities—Premiums chart (Spring 2025) and reflect that chart's own review dates, which vary by jurisdiction. Statutes change, and the chart may lag the current code. Confirm the current text of any provision with the jurisdiction's insurance department or your own counsel before relying on it.
Tie out a Arizona trust account
Tie your premium trust account out three ways — bank, ledger and what you owe — with Arizona's cited rule beside the worksheet. Runs in your browser; nothing is uploaded.
Trust account reconciliation worksheetKeep your trust account provably in balance
Policy Balance Hub tracks premium held in trust against what you owe each carrier, so the reconciliation an examiner asks for already exists.