reglab/housing_qa huggingface dataset:
WA Rev Code § 48.05.383 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.383 - Statement of actuarial opinion—Property and casualty insurance.

RCW 48.05.383 Statement of actuarial opinion—Property and casualty insurance.(1) Every property and casualty insurance company doing business in this state, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed actuary entitled "Statement of Actuarial Opinion." This opinion shall be filed in accordance with the property and casualty annual statement instructions as adopted by the national association of insurance commissioners.(2) Every property and casualty insurance company domiciled in this state that is required to submit a statement of actuarial opinion shall annually submit an actuarial opinion summary, written by the company's appointed actuary. This actuarial opinion summary shall be filed in accordance with the property and casualty annual statement instructions as adopted by the national association of insurance commissioners and shall be considered as a document supporting the actuarial opinion required in subsection (1) of this section.(3) An insurance company authorized but not domiciled in this state shall provide the actuarial opinion summary upon request.(4) An actuarial report and underlying work papers as required by the property and casualty annual statement instructions as adopted by the national association of insurance commissioners shall be prepared to support each actuarial opinion.(5) If the insurance company fails to provide either a supporting actuarial report or work papers, or both, at the request of the commissioner or the commissioner determines that the supporting actuarial report or work papers provided by the insurance company is otherwise unacceptable to the commissioner, the commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting actuarial report or work papers.(6) The appointed actuary is not liable for damages to any person, other than the insurance company, the commissioner, or both, for any act, error, omission, decision, or conduct with respect to the actuary's opinion, except in cases of fraud or willful misconduct on the part of the appointed actuary.[ 2006 c 25 § 1.]NOTES:Short title—2006 c 25 §§ 1-3: "Sections 1 through 3 of this act may be known and cited as the property and casualty actuarial opinion law." [ 2006 c 25 § 4.]Effective date—2006 c 25 §§ 1-4: "Sections 1 through 4 of this act take effect December 31, 2007." [ 2006 c 25 § 18.]
WA Rev Code § 48.05.390 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.390 - Reports by various insurers—Contents.

RCW 48.05.390 Reports by various insurers—Contents.(1) The report required by RCW 48.05.380 shall include the types of insurance written by the insurer for policies pertaining to:(a) Medical malpractice for physicians and surgeons, hospitals, other health care professions, and other health care facilities individually;(b) Products liability. However, if comparable information is included in the annual statement required by RCW 48.05.250, products liability data must not be reported under RCW 48.05.380;(c) Attorneys' malpractice;(d) Architects' and engineers' malpractice;(e) Municipal liability; and(f) Day care center liability.(2) The report shall include the following data by the type of insurance for the previous year ending on the thirty-first day of December:(a) Direct premiums written;(b) Direct premiums earned;(c) Net investment income, including net realized capital gain and losses, using appropriate estimates where necessary;(d) Incurred claims, development as the sum of the following:(i) Dollar amount of claims closed with payments; plus(ii) Reserves for reported claims at the end of the current year; minus(iii) Reserves for reported claims at the end of the previous year; plus(iv) Reserves for incurred but not reported claims at the end of the current year; minus(v) Reserves for incurred but not reported claims at the end of the previous year; plus(vi) Reserves for loss adjustment expense at the end of the current year; minus(vii) Reserves for loss adjustment expense at the end of the previous year.(e) Actual incurred expenses allocated separately to loss adjustment, commissions, other acquisition costs, advertising, general office expenses, taxes, licenses and fees, and all other expenses;(f) Net underwriting gain or loss;(g) Net operation gain or loss, including net investment income; and(h) Other information requested by the insurance commissioner.(3) The report shall be filed annually with the commissioner, no later than the first day of May.[ 1994 c 131 § 7; 1988 c 248 § 6; 1986 c 148 § 2; 1985 c 238 § 2.]NOTES:Effective date—Severability—1985 c 238: See notes following RCW 48.05.380.
WA Rev Code § 48.05.400 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.400 - Annual filing and fee to National Association of Insurance Commissioners—Penalty.

RCW 48.05.400 Annual filing and fee to National Association of Insurance Commissioners—Penalty.(1) Each domestic, foreign, and alien insurer that is authorized to transact insurance in this state shall annually, on or before March 1 of each year, file with the National Association of Insurance Commissioners a copy of its annual statement convention blank, along with such additional filings as prescribed by the commissioner for the preceding year. The information filed with the National Association of Insurance Commissioners shall be in the same format and scope as that required by the commissioner and shall include the signed jurate page and the actuarial certification. Any amendments and addendums to the annual statement filing subsequently filed with the commissioner shall also be filed with the National Association of Insurance Commissioners.(2) Coincident with the filing of its annual statement convention blank and other filings, each such insurer shall pay a reasonable fee directly to the National Association of Insurance Commissioners in an amount approved by the commissioner to cover the costs associated with the analysis of the annual statement convention blank.(3) Foreign insurers that are domiciled in a state which has a law substantially similar to subsection (1) of this section shall be considered to be in compliance with this section.(4) In the absence of actual malice, members of the National Association of Insurance Commissioners, their duly authorized committees, subcommittees, and task forces, their delegates, National Association of Insurance Commissioners employees, and all other persons charged with the responsibility of collecting, reviewing, analyzing, and dissimilating the information developed from the filing of the annual statement convention blanks shall be acting as agents of the commissioner under the authority of this section and shall not be subject to civil liability for libel, slander, or any other cause of action by virtue of their collection, review, and analysis or dissimilation of the data and information collected for the filings required under this section.(5) The commissioner may suspend, revoke, or refuse to renew the certificate of authority of any insurer failing to file its annual statement or pay the fees when due or within any extension of time which the commissioner, for good cause, may have granted.[ 1987 c 132 § 1.]
WA Rev Code § 48.05.410 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.410 - Health care practitioner risk management training.

RCW 48.05.410 Health care practitioner risk management training.Effective July 1, 1994, each health care provider, facility, or health maintenance organization that self-insures for liability risks related to medical malpractice and employs physicians or other independent health care practitioners in Washington state shall condition each physician's and practitioner's liability coverage by that entity upon that physician's or practitioner's participation in risk management training offered by the provider, facility, or health maintenance organization to its employees. The risk management training shall provide information related to avoiding adverse health outcomes resulting from substandard practice and minimizing damages associated with those adverse health outcomes that do occur. For purposes of this section, "independent health care practitioner" means those health care practitioner licensing classifications designated by the department of health in rule pursuant to *RCW 18.130.330.[ 1993 c 492 § 414.]NOTES:*Reviser's note: RCW 18.130.330 was repealed by 1995 c 265 § 27, effective July 1, 1995.Findings—Intent—1993 c 492: See notes following RCW 43.20.050.Short title—Savings—Reservation of legislative power—Effective dates—1993 c 492: See RCW 43.72.910 through 43.72.915.
WA Rev Code § 48.05.430 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.430 - Definitions.

RCW 48.05.430 Definitions.As used in RCW 48.05.430 through * 48.05.490, these terms have the following meanings:(1) "RBC" means risk-based capital.(2) "NAIC" means the national association of insurance commissioners.(3) "Domestic insurer" means any insurance company domiciled in this state.(4) "Foreign or alien insurer" means any insurance company that is licensed to do business in this state under this chapter but is not domiciled in this state.(5) "Life and disability insurer" means any insurance company authorized to write only life insurance, disability insurance, or both, as defined in chapter 48.11 RCW.(6) "Property and casualty insurer" means any insurance company authorized to write only property insurance, marine and transportation insurance, general casualty insurance, vehicle insurance, or any combination thereof, including disability insurance, as defined in chapter 48.11 RCW.(7) "Corrective order" means an order issued by the commissioner specifying corrective actions that the commissioner has determined are required.(8) "Negative trend" means, with respect to a life insurer, a disability insurer, or a life and disability insurer, the negative trend over a period of time, as determined in accordance with the trend test calculation included in the RBC instructions.(9) "Adjusted RBC report" means an RBC report that has been adjusted by the commissioner in accordance with RCW 48.05.435(5).(10) "RBC instructions" means the RBC report including risk-based capital instructions adopted by the NAIC.(11) "RBC level" means an insurer's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:(a) "Company action level RBC" means, with respect to any insurer, the product of 2.0 and its authorized control level RBC;(b) "Regulatory action level RBC" means the product [of] 1.5 and its authorized control level RBC;(c) "Authorized control level RBC" means the number determined under the risk-based capital formula in accordance with the RBC instructions; and(d) "Mandatory control level RBC" means the product of .70 and the authorized control level RBC.(12) "RBC plan" means a comprehensive financial plan containing the elements specified in RCW 48.05.440(2). If the commissioner rejects the RBC plan, and it is revised by the insurer, with or without the commissioner's recommendation, the plan shall be called the "revised RBC plan."(13) "RBC report" means the report required in RCW 48.05.435.(14) "Total adjusted capital" means the sum of:(a) An insurer's statutory capital and surplus as determined in accordance with statutory accounting applicable to the annual financial statements required to be filed under RCW 48.05.250; and(b) Other items, if any, as the RBC instructions may provide.[ 1995 c 83 § 1.]NOTES:*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.
WA Rev Code § 48.05.435 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.435 - Report of RBC levels—Formula for determining levels—Inaccurate reports adjusted by commissioner.

RCW 48.05.435 Report of RBC levels—Formula for determining levels—Inaccurate reports adjusted by commissioner.(1) Every domestic insurer shall, on or prior to the filing date, which is hereby established as March 1, prepare and submit to the commissioner a report of its RBC levels as of the end of the calendar year just ended, in a form and containing that information required by the RBC instructions. In addition, every domestic insurer shall file its RBC report:(a) With the NAIC in accordance with the RBC instructions; and(b) With the insurance commissioner in any state in which the insurer is authorized to do business, if the insurance commissioner has notified the insurer of its request in writing, in which case the insurer shall file its RBC report not later than the later of:(i) Fifteen days from the receipt of notice to file its RBC report with that state; or(ii) The filing date.(2) A life and disability insurer's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account and may adjust for the covariance between:(a) The risk with respect to the insurer's assets;(b) The risk of adverse insurance experience with respect to the insurer's liabilities and obligations;(c) The interest rate risk with respect to the insurer's business; and(d) All other business risks and other relevant risks as are set forth in the RBC instructions; determined in each case by applying the factors in the manner set forth in the RBC instructions.(3) A property and casualty insurer's RBC shall be determined in accordance with the formula set forth in the RBC instructions. The formula shall take into account and may adjust for the covariance between:(a) Asset risk;(b) Credit risk;(c) Underwriting risk; and(d) All other business risks and other relevant risks as are set forth in the RBC instructions; determined in each case by applying the factors in the manner set forth in the RBC instructions.(4) An excess of capital over the amount produced by the RBC requirements and the formulas, schedules, and instructions under RCW 48.05.430 through * 48.05.490 is desirable in the business of insurance. Accordingly, insurers should seek to maintain capital above the RBC levels required. Additional capital is used and useful in the insurance business and helps to secure an insurer against various risks inherent in, or affecting, the business of insurance and not accounted for or only partially measured by the RBC requirements.(5) If a domestic insurer files an RBC report that in the judgment of the commissioner is inaccurate, then the commissioner shall adjust the RBC report to correct the inaccuracy and shall notify the insurer of the adjustment. The notice shall contain a statement of the reason for the adjustment.[ 1995 c 83 § 2.]NOTES:*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.
WA Rev Code § 48.05.450 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.450 - Authorized control level event—Definition—Commissioner's duties.

RCW 48.05.450 Authorized control level event—Definition—Commissioner's duties.(1) "Authorized control level event" means any of the following events:(a) The filing of an RBC report by the insurer indicating that the insurer's total adjusted capital is greater than or equal to its mandatory control level RBC but less than its authorized control level RBC;(b) The notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in (a) of this subsection, provided the insurer does not challenge the adjusted RBC report under RCW 48.05.460;(c) If, under RCW 48.05.460, the insurer challenges an adjusted RBC report that indicates the event in (a) of this subsection, notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge;(d) The failure of the insurer to respond, in a manner satisfactory to the commissioner, to a corrective order, provided the insurer has not challenged the corrective order under RCW 48.05.460; or(e) If the insurer has challenged a corrective order under RCW 48.05.460 and the commissioner has, after a hearing, rejected the challenge or modified the corrective order, the failure of the insurer to respond, in a manner satisfactory to the commissioner, to the corrective order subsequent to rejection or modification by the commissioner.(2) In the event of an authorized control level event with respect to an insurer, the commissioner shall:(a) Take those actions required under RCW 48.05.445 regarding an insurer with respect to which a regulatory action level event has occurred; or(b) If the commissioner deems it to be in the best interests of the policyholders and creditors of the insurer and of the public, take those actions necessary to cause the insurer to be placed under regulatory control under chapter 48.31 RCW. In the event the commissioner takes these actions, the authorized control level event is sufficient grounds for the commissioner to take action under chapter 48.31 RCW, and the commissioner has the rights, powers, and duties with respect to the insurer as are set forth in chapter 48.31 RCW. In the event the commissioner takes actions under this subsection pursuant to an adjusted RBC report, the insurer is entitled to those protections afforded to insurers under RCW 48.31.121 pertaining to summary proceedings.[ 1995 c 83 § 5.]
WA Rev Code § 48.05.455 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.455 - Mandatory control level event—Definition—Commissioner's duties.

RCW 48.05.455 Mandatory control level event—Definition—Commissioner's duties.(1) "Mandatory control level event" means any of the following events:(a) The filing of an RBC report indicating that the insurer's total adjusted capital is less than its mandatory control level RBC;(b) Notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in (a) of this subsection, provided the insurer does not challenge the adjusted RBC report under RCW 48.05.460; or(c) If, under RCW 48.05.460, the insurer challenges an adjusted RBC report that indicates the event in (a) of this subsection, notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge.(2) In the event of a mandatory control level event:(a) With respect to a life and disability insurer, the commissioner shall take those actions necessary to place the insurer under regulatory control under chapter 48.31 RCW. In that event, the mandatory control level event is sufficient grounds for the commissioner to take action under chapter 48.31 RCW, and the commissioner has the rights, powers, and duties with respect to the insurer as are set forth in chapter 48.31 RCW. If the commissioner takes actions pursuant to an adjusted RBC report, the insurer is entitled to the protections of RCW 48.31.121 pertaining to summary proceedings. However, the commissioner may forego action for up to ninety days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the ninety-day period.(b) With respect to a property and casualty insurer, the commissioner shall take those actions necessary to place the insurer under regulatory control under chapter 48.31 RCW, or, in the case of an insurer that is writing no business and that is running off its existing business, may allow the insurer to continue its runoff under the supervision of the commissioner. In either event, the mandatory control level event is sufficient grounds for the commissioner to take action under chapter 48.31 RCW and the commissioner has the rights, powers, and duties with respect to the insurer as are set forth in chapter 48.31 RCW. If the commissioner takes actions pursuant to an adjusted RBC report, the insurer is entitled to the protections of RCW 48.31.121 pertaining to summary proceedings. However, the commissioner may forego action for up to ninety days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the ninety-day period.[ 1995 c 83 § 6.]
WA Rev Code § 48.05.460 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.460 - Insurer's right to a hearing—Request—Commissioner sets date.

RCW 48.05.460 Insurer's right to a hearing—Request—Commissioner sets date.(1) Upon notification to an insurer by the commissioner of any of the following, the insurer shall have the right to a hearing, in accordance with chapters 48.04 and 34.05 RCW, at which the insurer may challenge any determination or action by the commissioner:(a) Of an adjusted RBC report; or(b)(i) That the insurer's RBC plan or revised RBC plan is unsatisfactory; and(ii) The notification constitutes a regulatory action level event with respect to such insurer; or(c) That the insurer has failed to adhere to its RBC plan or revised RBC plan and that such failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan; or(d) Of a corrective order with respect to the insurer.(2) The insurer shall notify the commissioner of its request for a hearing within five days after the notification by the commissioner under this section. Upon receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing. The date shall be no less than ten nor more than thirty days after the date of the insurer's request.[ 1995 c 83 § 7.]
WA Rev Code § 48.05.470 (2021)
2021 Revised Code of Washington|Title 48 - Insurance|Chapter 48.05 - Insurers—General Requirements.|48.05.470 - Regulation of capital and surplus requirements is supplemental—Commissioner may grant exemptions.

RCW 48.05.470 Regulation of capital and surplus requirements is supplemental—Commissioner may grant exemptions.(1) The provisions of RCW 48.05.430 through * 48.05.490 are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under those laws, including, but not limited to, chapter 48.31 RCW.(2) The commissioner may exempt any domestic property and casualty insurer from RCW 48.05.430 through * 48.05.490, if the insurer:(a) Writes direct business only in this state;(b) Writes direct annual premiums of two million dollars or less; and(c) Assumes no reinsurance in excess of five percent of direct premiums written.[ 1995 c 83 § 9.]NOTES:*Reviser's note: RCW 48.05.490 was repealed by 2006 c 25 § 11.