Arizona Director of Insurance and Financial Institutions
| Arizona Director of Insurance and Financial Institutions | |
 | |
| General information | |
| Office Type: | Nonpartisan |
| Office website: | Official Link |
| Compensation: | $131,000 |
| 2024 FY Budget: | $20,947,200 |
| Term limits: | None |
| Structure | |
| Length of term: | Serves at pleasure of governor |
| Authority: | Arizona Revised Statutes, Title 20, Chapter 1, Article 2, Section 141 |
| Selection Method: | Appointed by governor |
| Current Officeholder | |
Arizona Director of Insurance
Barbara Richardson | |
| Other Arizona Executive Offices | |
| Governor • Secretary of State • Attorney General • Treasurer • Superintendent of Public Instruction• Auditor• Agriculture Director • Insurance and Financial Institutions Director• Lands Commissioner• Labor Director• Corporation Commission• State Mine Inspector | |
The Arizona Director of Insurance and Financial Institutions is a state executive position in the Arizona state government. The director is responsible for establishing and enforcing regulations in the Arizona insurance market "in a manner that protects... consumers and encourages economic development."[1] He or she oversees the Arizona Department of Insurance and Financial Institutions.
Current officeholder
The current Arizona Director of Insurance is Barbara Richardson (nonpartisan). Richardson assumed office in 2023.
Authority
The director's authority stems from Arizona law. The director is appointed pursuant to section 38-211 of the Arizona Revised Statutes, meaning the nominee must receive the consent of the Arizona Senate.[2]
Arizona Revised Statutes, Title 20, Chapter 1, Article 2, Section 141
| A. There shall be a director of insurance who shall be appointed by the governor pursuant to section 38-211. |
Qualifications
Per state law, the director must be at least eighteen years old, a citizen of the United States and able to speak English. He or she must also be "well versed in insurance matters" and have been a resident of the state for at least three years prior to appointment.[3]
Arizona Revised Statutes, Title 20, Chapter 1, Article 2, Section 141
| C. The director shall be a person well versed in insurance matters who has been a resident of the state for at least three years prior to appointment. |
Appointments
The director is appointed by the governor with the consent of the Arizona State Senate.[2]
Arizona Revised Statutes, Title 20, Chapter 1, Article 2, Section 141
| A. There shall be a director of insurance who shall be appointed by the governor pursuant to section 38-211. |
Term limits
There are no term limits for the director.
Vacancies
If a vacancy occurs, the governor nominates a new appointee to the state Senate. If the departing incumbent is able to continue to hold office until the new appointee qualifies, he or she does so. Otherwise, the nominee assumes office pending confirmation. If the senate subsequently rejects the nominee, the governor makes a new appointment.
In general, a vacancy appointee serves the unexpired term of the previous officeholder.[4]
Arizona Revised Statutes, Title 38, Chapter 2, Article 2, Section 211
| B. If the term of any state office which is appointive pursuant to this section expires, begins or becomes vacant during a regular legislative session, the governor shall during such session nominate a person who meets the requirements of law for such office and shall promptly transmit the nomination to the president of the senate. If the incumbent is capable of continuing to serve until his successor has qualified, a nominee to that position shall not assume and discharge the duties of the office, pending senate confirmation. If the incumbent is unable to continue to discharge the duties of office, the nominee shall assume and discharge the duties of the office pending senate confirmation. If the senate consents to the nomination, the governor shall then appoint the nominee to serve for the term or, in the case of a vacancy, for the unexpired term in which the vacancy occurred. If the senate rejects the nomination the nominee shall not be appointed and the governor shall promptly nominate another person who meets the requirements for such office. If the senate takes no formal action on the nomination during such legislative session, or if a nomination other than one that is required to be sent to the senate during the first week of the legislative session is not received during the session, the governor shall after the close of such legislative session appoint the nominee to serve, and the nominee shall discharge the duties of office, subject to confirmation during the next legislative session. |
Duties
The director oversees the Arizona Department of Insurance and Financial Institutions (DIFI). The stated goal of DIFI is "to help Arizonans receive the benefits and protections to which they are legally entitled by enforcing insurance and financial institution laws and by providing information and assistance, and to combat vehicle theft." The department's duties include: "DIFI licenses, monitors, investigates, examines, facilitates compliance of, and ensures the safety and soundness of, regulated entities; helps resolve consumer complaints against financial-services and insurance entities; takes action in response to violations of law; encourages competition, innovation and economic development; collects taxes and assessments that support State government operations; combats auto theft and insurance fraud through public awareness campaigns, and funding for law enforcement and dedicated prosecutors."[5]
Divisions
As of January 7, 2021, divisions within the Department of Insurance and Financial Institutions included:[6]
- Administration
- Financial Institutions
- Mortgage Lending
- Licensing
State budget
- See also: Arizona state budget and finances
The budget for the Department of Insurance in Fiscal Year 2024 was $20,947,200.[7]
Compensation
- See also: Compensation of state executive officers
The Arizona Director of Insurance and Financial Institutions' compensation is determined by the Department of Administration in its annual recommendation to the legislature.[8]
2022
In 2022, the officer's salary was $131,000, according to the Council of State Governments.[9]
2021
In 2021, the director received a salary of $131,000, according to the Council of State Governments.[10]
2020
In 2020, the director received a salary of $120,000 according to the Council of State Governments.[11]
2019
In 2019, the director received a salary of $120,000 according to the Council of State Governments.[12]
2018
In 2018, the director received a salary of $120,000 according to the Council of State Governments.[13]
2017
In 2017, the director received a salary of $120,000 according to the Council of State Governments.[14]
2016
In 2016, the director received a salary of $120,000 according to the Council of State Governments.[15]
2015
In 2015, the director received a salary of $115,500 according to the Council of State Governments.[16]
2014
In 2014, the director's salary remained at $115,650 according to the Council of State Governments.[17]
2013
In 2013, the director was paid an estimated $115,650 according to the Council of State Governments.[18]
2010
In 2010, the director was paid an estimated $115,650 according to the Council of State Governments.[19]
Historical officeholders
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders; information for the Arizona Director of Insurance and Financial Institutions has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
- Evan Daniels (2020 - Present)
- Christina Corieri (2020-2020)
Recent news
The link below is to the most recent stories in a Google news search for the terms Arizona Director of Insurance. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
Contact info
Physical address:
100 N 15th Ave, Suite 261
Phoenix, AZ 85007
Phone: (602) 771-2800
See also
| Arizona | State Executive Elections | News and Analysis |
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External links
Footnotes
- ↑ Arizona Department of Insurance, "Home," accessed January 7, 2021
- ↑ 2.0 2.1 Arizona Revised Statutes, "Section 20-141," accessed January 7, 2021
- ↑ Arizona Revised Statutes, "Sections 38-201 and 20-141," accessed January 7, 2021
- ↑ Arizona Revised Statutes, "Section 38-211," accessed January 7, 2021
- ↑ Arizona Department of Insurance and Financial Institutions, "About DIFI," accessed January 7, 2021
- ↑ Arizona Department of Insurance and Financial Institutions, "Management Team," accessed January 7, 2021
- ↑ Arizona Joint Legislative Budget Committee, "Summary of Appropriated Funds by Agency - Fiscal Years 2023 and 2024," accessed December 6, 2023
- ↑ Arizona Revised Statutes, "Title 38, Chapter 4, Article 1, Section 611," accessed January 7, 2021
- ↑ Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
- ↑ Issuu, "The Book of the States 2021," accessed September 22, 2022
- ↑ Council of State Governments, "The Book of the States 2020," accessed January 5, 2021
- ↑ Council of State Governments, "The Book of the States 2019," accessed January 5, 2021
- ↑ Council of State Governments, "The Book of the States 2018," accessed January 5, 2021
- ↑ Council of State Governments, "The Book of the States 2017," accessed January 5, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed November 14, 2014
- ↑ The Council of State Governments, "Book of the States 2013, Table 4.11," accessed January 31, 2014
- ↑ The Council of State Governments, "Book of the States 2010, Table 4.11," accessed May 20, 2011
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