reglab/housing_qa huggingface dataset:
WA Rev Code § 48.05.475 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.475 - RBC report from foreign or alien insurers—Request of commissioner—Commissioner's options.

RCW 48.05.475 RBC report from foreign or alien insurers—Request of commissioner—Commissioner's options.(1) Any foreign or alien insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC report as of the end of the calendar year just ended by the later of:(a) The date an RBC report would be required to be filed by a domestic insurer under RCW 48.05.435; or(b) Fifteen days after the request is received by the foreign or alien insurer. Any foreign or alien insurer shall, at the written request of the commissioner, promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state.(2) In the event of a company action level event, regulatory action level event, or authorized control level event with respect to any foreign or alien insurer as determined under the RBC statute applicable in the state of domicile of the insurer or, if no RBC statute is in force in that state, under the provisions of RCW 48.05.430 through * 48.05.490, if the insurance commissioner of the state of domicile of the foreign or alien insurer fails to require the foreign or alien insurer to file an RBC plan in the manner specified under that state's RBC statute, the commissioner may require the foreign or alien insurer to file an RBC plan. In this event, the failure of the foreign or alien insurer to file an RBC plan is grounds to order the insurer to cease and desist from writing new insurance business in this state.(3) In the event of a mandatory control level event with respect to any foreign or alien insurer, if no domiciliary receiver has been appointed with respect to the foreign or alien insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign or alien insurer, the commissioner may apply for an order under RCW 48.31.080 or 48.31.090 to conserve the assets within this state of foreign or alien insurers, and the occurrence of the mandatory control level event is considered adequate grounds for the application.[ 1995 c 83 § 10.]NOTES:*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.
WA Rev Code § 48.05.480 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.480 - No liability for regulation of capital and surplus requirements.

RCW 48.05.480 No liability for regulation of capital and surplus requirements.There is no liability on the part of, and no cause of action may arise against, the commissioner or insurance department or its employees or agents for any action taken by them in the performance of their powers and duties under RCW 48.05.430 through * 48.05.490.[ 1995 c 83 § 11.]NOTES:*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.
WA Rev Code § 48.05.485 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.485 - Notices by commissioner—When effective.

RCW 48.05.485 Notices by commissioner—When effective.All notices by the commissioner to an insurer that may result in regulatory action are effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission are effective upon the insurer's receipt of the notice.[ 1995 c 83 § 12.]
WA Rev Code § 48.05.510 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.510 - Disclosure of certain material transactions—Insurer's report—Information is confidential.

RCW 48.05.510 Disclosure of certain material transactions—Insurer's report—Information is confidential.(1) Every insurer domiciled in this state shall file a report with the commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements unless these acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ceded reinsurance agreements have been submitted to the commissioner for review, approval, or information purposes under other provisions of this title or other requirements.(2) The report required in subsection (1) of this section is due within fifteen days after the end of the calendar month in which any of the transactions occur.(3) One complete copy of the report, including any exhibits or other attachments filed as part of the report, shall be filed with the:(a) Commissioner; and(b) National association of insurance commissioners.(4) All reports obtained by or disclosed to the commissioner under this section and RCW 48.05.515 through 48.05.535 are exempt from public inspection and copying and are not subject to subpoena. These reports shall not be made public by the commissioner, the national association of insurance commissioners, or any other person, except to insurance departments of other states, without the prior written consent of the insurer to which it pertains unless the commissioner, after giving the insurer that would be affected by disclosure notice and a hearing under chapter 48.04 RCW, determines that the interest of policyholders, shareholders, or the public will be served by the publication, in which event the commissioner may publish all or any part of the report in the manner he or she deems appropriate.[ 1995 c 86 § 1.]
WA Rev Code § 48.05.515 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.515 - Material acquisitions or dispositions.

RCW 48.05.515 Material acquisitions or dispositions.No acquisitions or dispositions of assets need be reported under RCW 48.05.510 if the acquisitions or dispositions are not material. For purposes of RCW 48.05.510 through 48.05.535, a material acquisition, or the aggregate of any series of related acquisitions during any thirty-day period; or disposition, or the aggregate of any series of related dispositions during any thirty-day period is an acquisition or disposition that is nonrecurring and not in the ordinary course of business and involves more than five percent of the reporting insurer's total assets as reported in its most recent statutory statement filed with the commissioner.[ 1995 c 86 § 2.]
WA Rev Code § 48.05.520 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.520 - Asset acquisitions—Asset dispositions.

RCW 48.05.520 Asset acquisitions—Asset dispositions.(1) Asset acquisitions subject to RCW 48.05.510 through 48.05.535 include every purchase, lease, exchange, merger, consolidation, succession, or other acquisition other than the construction or development of real property by or for the reporting insurer or the acquisition of materials for such a purpose.(2) Asset dispositions subject to RCW 48.05.510 through 48.05.535 include every sale, lease, exchange, merger, consolidation, mortgage, hypothecation, abandonment, destruction, other disposition, or assignment, whether the assignment is for the benefit of creditors or otherwise.[ 1995 c 86 § 3.]
WA Rev Code § 48.05.525 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.525 - Report of a material acquisition or disposition of assets—Information required.

RCW 48.05.525 Report of a material acquisition or disposition of assets—Information required.(1) The following information is required to be disclosed in any report of a material acquisition or disposition of assets:(a) Date of the transaction;(b) Manner of acquisition or disposition;(c) Description of the assets involved;(d) Nature and amount of the consideration given or received;(e) Purpose of or reason for the transaction;(f) Manner by which the amount of consideration was determined;(g) Gain or loss recognized or realized as a result of the transaction; and(h) Names of the persons from whom the assets were acquired or to whom they were disposed.(2) Insurers are required to report material acquisitions and dispositions on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers that utilizes a pooling arrangement or one hundred percent reinsurance agreement that affects the solvency and integrity of the insurer's reserves and such an insurer ceded substantially all of its direct and assumed business to the pool. An insurer has ceded substantially all of its direct and assumed business to a pool if the insurer has less than one million dollars total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than five percent of the insurer's capital and surplus.[ 1995 c 86 § 4.]
WA Rev Code § 48.05.530 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.530 - Material nonrenewals, cancellations, or revisions of ceded reinsurance agreements.

RCW 48.05.530 Material nonrenewals, cancellations, or revisions of ceded reinsurance agreements.(1) No nonrenewals, cancellations, or revisions of ceded reinsurance agreements need be reported under RCW 48.05.510 if the nonrenewals, cancellations, or revisions are not material. For purposes of RCW 48.05.510 through 48.05.535, a material nonrenewal, cancellation, or revision is one that affects:(a) More than fifty percent of a property and casualty insurer's total ceded written premium;(b) More than fifty percent of the property and casualty insurer's total ceded indemnity and loss adjustment reserves;(c) More than fifty percent of a nonproperty and casualty insurer's total reserve credit taken for business ceded, on an annualized basis, as indicated in the insurer's most recent annual statement;(d) More than ten percent of an insurer's total cession when it is replaced by one or more unauthorized reinsurers; or(e) Previously established collateral requirements, when they have been reduced or waived as respects one or more unauthorized reinsurers representing collectively more than ten percent of a total cession.(2) However, a filing is not required if:(a) A property and casualty insurer's total ceded written premium represents, on an annualized basis, less than ten percent of its total written premium for direct and assumed business; or(b) A nonproperty and casualty insurer's total reserve credit taken for business ceded represents, on an annualized basis, less than ten percent of the statutory reserve requirement prior to any cession.[ 1995 c 86 § 5.]
WA Rev Code § 48.05.535 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.535 - Report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements—Information required.

RCW 48.05.535 Report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements—Information required.(1) The following is required to be disclosed in any report of a material nonrenewal, cancellation, or revision of ceded reinsurance agreements:(a) The effective date of the nonrenewal, cancellation, or revision;(b) The description of the transaction with an identification of the initiator;(c) The purpose of or reason for the transaction; and(d) If applicable, the identity of the replacement reinsurers.(2) Insurers are required to report all material nonrenewals, cancellations, or revisions of ceded reinsurance agreements on a nonconsolidated basis unless the insurer is part of a consolidated group of insurers that utilizes a pooling arrangement or one hundred percent reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer ceded substantially all of its direct and assumed business to the pool. An insurer has ceded substantially all of its direct and assumed business to a pool if the insurer has less than one million dollars total direct plus assumed written premiums during a calendar year that are not subject to a pooling arrangement and the net income of the business not subject to the pooling arrangement represents less than five percent of the insurer's capital and surplus.[ 1995 c 86 § 6.]
WA Rev Code § 48.05A.005 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.005 - Purpose—Application—Findings—Intent.

RCW 48.05A.005 Purpose—Application—Findings—Intent.(1) The purpose of this chapter is to provide the requirements for maintaining a risk management framework and completing an own risk and solvency assessment and provide guidance and instructions for filing an ORSA summary report with the insurance commissioner of this state.(2) The requirements of this chapter apply to all insurers domiciled in this state unless exempt pursuant to RCW 48.05A.030.(3) The legislature finds and declares that the ORSA summary report contains confidential and sensitive information related to an insurer or insurance group's identification of risks material and relevant to the insurer or insurance group filing the report. This information includes proprietary and trade secret information that has the potential for harm and competitive disadvantage to the insurer or insurance group if the information is made public. It is the intent of this legislature that the ORSA summary report is a confidential document filed with the commissioner, that the ORSA summary report may be shared only as stated in this chapter and to assist the commissioner in the performance of his or her duties, and that in no event may the ORSA summary report be subject to public disclosure.[ 2015 c 17 § 1.]
WA Rev Code § 48.05A.010 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.010 - Definitions.

RCW 48.05A.010 Definitions.The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Insurance group" means, for the purposes of conducting an ORSA, those insurers and affiliates included within an insurance holding company system as defined in RCW 48.31B.005.(2) "Insurer" includes an insurer authorized under chapter 48.05 RCW, a fraternal mutual insurer or society holding a license under RCW 48.36A.290, a health care service contractor registered under chapter 48.44 RCW, a health maintenance organization registered under chapter 48.46 RCW, and a self-funded multiple employer welfare arrangement under chapter 48.125 RCW, as well as all persons engaged as, or purporting to be engaged as insurers, fraternal benefit societies, health care service contractors, health maintenance organizations, or self-funded multiple employer welfare arrangements in this state, and to persons in process of organization to become insurers, fraternal benefit societies, health care service contractors, health maintenance organizations, or self-funded multiple employer welfare arrangements, except that it does not include agencies, authorities, or instrumentalities of the United States, its possessions and territories, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.(3) "ORSA guidance manual" means the own risk and solvency assessment guidance manual developed and adopted by the national association of insurance commissioners.(4) "ORSA summary report" means a confidential high-level ORSA summary of an insurer or insurance group.(5) "Own risk and solvency assessment" or "ORSA" means a confidential internal assessment, appropriate to the nature, scale, and complexity of an insurer or insurance group, conducted by that insurer or insurance group of the material and relevant risks associated with the insurer or insurance group's current business plan, and the sufficiency of capital resources to support those risks.[ 2015 c 17 § 2.]
WA Rev Code § 48.05A.015 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.015 - Risk management framework required.

RCW 48.05A.015 Risk management framework required.An insurer must maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting on its material and relevant risks. This requirement is satisfied if the insurance group of which the insurer is a member maintains a risk management framework applicable to the operations of the insurer.[ 2015 c 17 § 3.]
WA Rev Code § 48.05A.020 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.020 - Must conduct an ORSA at least annually.

RCW 48.05A.020 Must conduct an ORSA at least annually.Subject to RCW 48.05A.030, an insurer, or the insurance group of which the insurer is a member, must regularly conduct an ORSA consistent with a process comparable to the ORSA guidance manual. The ORSA must be conducted annually but also at any time when there are significant changes to the risk profile of the insurer or the insurance group of which the insurer is a member.[ 2015 c 17 § 4.]
WA Rev Code § 48.05A.025 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.025 - Submission of ORSA summary reports—Frequency—Requirements.

RCW 48.05A.025 Submission of ORSA summary reports—Frequency—Requirements.(1) Upon the commissioner's request, and no more than once each year, an insurer must submit to the commissioner an ORSA summary report or any combination of reports that together contain the information described in the ORSA guidance manual, applicable to the insurer or the insurance group of which it is a member. Notwithstanding any request from the commissioner, if the insurer is a member of an insurance group, the insurer must submit the report or set of reports required by this subsection if the commissioner is the lead state commissioner of the insurance group as determined by the procedures within the financial analysis handbook adopted by the national association of insurance commissioners.(2) The report must include a signature of the insurer or insurance group's chief risk officer or other executive having responsibility for the oversight of the insurer's enterprise risk management process attesting to the best of his or her belief and knowledge that the insurer applies the enterprise risk management process described in the ORSA summary report and that a copy of the report has been provided to the insurer's board of directors or the appropriate governing committee.(3) An insurer may comply with subsection (1) of this section by providing the most recent and substantially similar report or reports provided by the insurer or another member of an insurance group of which the insurer is a member to the commissioner of another state or to a supervisor or regulator of a foreign jurisdiction, if that report provides information that is comparable to the information described in the ORSA guidance manual. Any such report in a language other than English must be accompanied by a translation of that report into the English language.[ 2015 c 17 § 5.]
WA Rev Code § 48.05A.035 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.035 - ORSA summary report must be consistent with ORSA guidance manual.

RCW 48.05A.035 ORSA summary report must be consistent with ORSA guidance manual.(1) The ORSA summary report shall be prepared consistent with the ORSA guidance manual, subject to the requirements of subsection (2) of this section. Documentation and supporting information must be maintained and made available upon examination or upon the request of the commissioner.(2) The review of the ORSA summary report, and any additional requests for information, must be made using similar procedures currently used in the analysis and examination of multistate or global insurers and insurance groups.[ 2015 c 17 § 7.]
WA Rev Code § 48.05A.045 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.045 - Failure to report—Fines.

RCW 48.05A.045 Failure to report—Fines.The commissioner must require any insurer failing, without just cause, to file the ORSA summary report as required in this chapter, after notice and hearing, to pay a fine of five hundred dollars for each day's delay, to be recovered by the commissioner and the fine collected must be transferred to the treasurer for deposit into the state general fund. The maximum fine under this section is one hundred thousand dollars. The commissioner may reduce the fine if the insurer demonstrates to the commissioner that the imposition of the fine would constitute a financial hardship to the insurer.[ 2015 c 17 § 9.]
WA Rev Code § 48.05A.900 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.900 - Short title.

RCW 48.05A.900 Short title.This chapter may be known and cited as the risk management and solvency assessment act.[ 2015 c 17 § 14.]
WA Rev Code § 48.05A.901 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05A - Risk Management and Solvency Assessment.|48.05A.901 - Effective dates—2015 c 17.

RCW 48.05A.901 Effective dates—2015 c 17.Except for section 11 of this act, which takes effect July 1, 2017, this act takes effect January 1, 2016.[ 2015 c 17 § 15.]
WA Rev Code § 48.06.010 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.06 - Organization of Domestic Insurers.|48.06.010 - Types of domestic insurers permitted.

RCW 48.06.010 Types of domestic insurers permitted.An insurer formed in this state shall be either(1) An incorporated stock insurer, or(2) An incorporated mutual insurer, or(3) An incorporated specific risks mutual property insurer, or(4) An incorporated mutual assessment property insurer only, or(5) An incorporated farm mutual assessment property insurer only, or(6) A reciprocal insurer, with respective powers, duties, and restrictions as provided in this code.[1947 c 79 § .06.01; Rem. Supp. 1947 § 45.06.01.]
WA Rev Code § 48.06.020 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.06 - Organization of Domestic Insurers.|48.06.020 - Assessment mutuals prohibited—Exceptions.

RCW 48.06.020 Assessment mutuals prohibited—Exceptions.No insurer shall be formed or be authorized in this state to issue contracts of insurance the performance of which is contingent upon the payment of assessments, assessment premiums, or calls made upon its members. Mutual assessment property insurers and farm mutual assessment property insurers shall be the only exception to this provision.[1947 c 79 § .06.02; Rem. Supp. 1947 § 45.06.02.]
WA Rev Code § 48.06.030 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.06 - Organization of Domestic Insurers.|48.06.030 - Solicitation permit.

RCW 48.06.030 Solicitation permit.(1) No person forming or proposing to form in this state an insurer, or insurance holding corporation, or stock corporation to finance an insurer or insurance production therefor, or corporation to manage an insurer, or corporation to be attorney-in-fact for a reciprocal insurer, or a syndicate for any of such purposes, shall advertise, or solicit or receive any funds, agreement, stock subscription, or membership on account thereof unless he or she has applied for and has received from the commissioner a solicitation permit.(2) Any person violating this section is guilty of a class B felony and shall be subject to a fine of not more than ten thousand dollars or imprisonment for not more than ten years, or by both fine and imprisonment.[ 2003 c 53 § 267; 1947 c 79 § .06.03; Rem. Supp. 1947 § 45.06.03.]NOTES:Intent—Effective date—2003 c 53: See notes following RCW 2.48.180.