The Arizona Department of Insurance and Financial Institutions (hereinafter referred to as “State Agency”) is authorized by ARS § 20-148 to contract for and procure, on a fee or part-time basis, or both, such actuarial, technical and other professional services as may be required for the operation of the State Agency. The State Agency is permitted by ARS § 20-142(C) to conduct examinations and investigations of insurance matters. The State Agency is required by ARS § 20-156 to examine the financial affairs, transactions, accounts, records and assets of each insurer seeking to do business in Arizona, and of other authorized insurers as often as deemed advisable. The State Agency is permitted by ARS § 20-157 to employ experts to correct examinee accounting records and appraisers to valuate real estate.
