reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.040 - Certificate of authority—Qualifications.

RCW 48.05.040
Certificate of authority—Qualifications.
To qualify for and hold a certificate of authority an insurer must:
(1) Be a stock, mutual, or reciprocal insurer of the same general type as may be formed as a domestic insurer under the provisions of chapter 48.06 RCW of this code, but this requirement shall not apply as to domestic mutual property insurers which, as of January 1, 1957, were lawfully transacting insurance on the assessment plan; and
(2) Have capital funds as required by this code, based upon the type and domicile of the insurer and the kinds of insurance proposed to be transacted; and
(3) Transact or propose to transact in this state insurances authorized by its charter, and only such insurance as meets the standards and requirements of this code; and
(4) Fully comply with, and qualify according to, the other provisions of this code.
[ 1957 c 193 § 1; 1947 c 79 § .05.04; Rem. Supp. 1947 § 45.05.04.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.045 - Certificate of authority not to be issued to governmentally owned insurer.

RCW 48.05.045
Certificate of authority not to be issued to governmentally owned insurer.
No certificate of authority shall be issued to or exist with respect to any insurer which is owned and controlled, in whole or in substantial part, by any government or governmental agency.
[ 1957 c 193 § 2.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.050 - "Charter" defined.

RCW 48.05.050
"Charter" defined.
"Charter" means articles of incorporation, articles of agreement, articles of association of a corporation, or other basic constituent document of a corporation, or subscribers' agreement and attorney-in-fact agreement of a reciprocal insurer.
[1947 c 79 § .05.05; Rem. Supp. 1947 § 45.05.05.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.060 - "Capital funds" defined.

RCW 48.05.060
"Capital funds" defined.
"Capital funds" means the excess of the assets of an insurer over its liabilities. Capital stock, if any, shall not be deemed to be a liability for the purposes of this section.
[1947 c 79 § .05.06; Rem. Supp. 1947 § 45.05.06.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.070 - Application for certificate of authority.

RCW 48.05.070
Application for certificate of authority.
To apply for an original certificate of authority an insurer shall:
(1) File with the commissioner its request therefor showing:
(a) Its name, home office location, type of insurer, organization date, and state or country of its domicile.
(b) The kinds of insurance it proposes to transact.
(c) Additional information as the commissioner may reasonably require.
(2) File with the commissioner:
(a) A copy of its charter as amended, certified, if a foreign or alien insurer, by the proper public officer of the state or country of domicile.
(b) A copy of its bylaws, certified by its proper officer.
(c) A statement of its financial condition, management, and affairs on a form satisfactory to or furnished by the commissioner.
(d) If a foreign or alien insurer, or a domestic reciprocal insurer, an appointment of the commissioner as its attorney to receive service of legal process.
(e) If an alien insurer, a copy of the appointment and authority of its United States manager, certified by its proper officer.
(f) If a foreign or alien insurer, a certificate from the proper public official of its state or country of domicile showing that it is duly organized and is authorized to transact the kinds of insurance proposed to be transacted.
(g) If a domestic reciprocal insurer, the declaration required by RCW 48.10.090 of this code.
(h) Other documents or stipulations as the commissioner may reasonably require to evidence compliance with the provisions of this code.
(3) Deposit with the commissioner the fees required by this code to be paid for filing the accompanying documents, and for the certificate of authority, if granted.
[1947 c 79 § .05.07; Rem. Supp. 1947 § 45.05.07.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.073 - Filing of financial statements.

RCW 48.05.073
Filing of financial statements.
Every insurer holding a certificate of authority from the commissioner shall file its financial statements as required by this code and by the commissioner in accordance with the accounting practices and procedures manuals as adopted by the national association of insurance commissioners, unless otherwise provided by law.
[ 1999 c 33 § 1.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.080 - Foreign insurers—Deposit.

RCW 48.05.080
Foreign insurers—Deposit.
(1) Prior to the issuance of a certificate of authority to a foreign insurer, it shall make a deposit of assets with the commissioner for the protection of all its policyholders, or of all of its policyholders and obligees or its policyholders and obligees within the United States, in amount and kind, subject to RCW 48.14.040, the same as is required of a like domestic insurer transacting like kinds of insurance.
(2) In lieu of such deposit or part thereof the commissioner may accept the certificate of the public official having supervision over insurers in any other state to the effect that a like deposit by such insurer or like part thereof in equal or greater amount is held in public custody in such state.
[ 1955 c 86 § 1; 1947 c 79 § .05.08; Rem. Supp. 1947 § 45.05.08.]
NOTES:
Effective date—1955 c 86: "This act shall become effective on January 1, 1956." [ 1955 c 86 § 18.]
Supervision of transfers—1955 c 86: "All transfers authorized under this act shall be made under the supervision of the state auditor." [ 1955 c 86 § 19.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.090 - Alien insurers—Assets required—Trust deposit.

RCW 48.05.090
Alien insurers—Assets required—Trust deposit.
(1) An alien insurer shall not be authorized to transact insurance in this state unless it maintains within the United States assets in amount not less than its outstanding liabilities arising out of its insurance transactions in the United States, nor unless it maintains a trust deposit in an amount not less than the required reserves under its policies resulting from such transactions (after deducting, in the case of a life insurer, the amount of outstanding policy loans on such policies) plus assets equal to the larger of the following sums:
(a) The largest amount of deposit required under this title to be made in this state by any type of domestic insurer transacting like kinds of insurance; or
(b) Two hundred thousand dollars.
(2) The trust deposit shall be for the security of all policyholders or policyholders and obligees of the insurer in the United States. It shall not be subject to diminution below the amount currently determined in accordance with subsection (1) of this section so long as the insurer has outstanding any liabilities arising out of its business transacted in the United States.
(3) The trust deposit shall be maintained with public depositaries or trust institutions within the United States approved by the commissioner.
[ 1949 c 190 § 4; 1947 c 79 § .05.09; Rem. Supp. 1949 § 45.05.09.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.100 - Alien insurers—Deposit resolution.

RCW 48.05.100
Alien insurers—Deposit resolution.
An alien insurer shall file with the commissioner a certified copy of the resolution of its governing board by which the trust deposit was established, together with a certified copy of any trust agreement under which the deposit is held.
[1947 c 79 § .05.10; Rem. Supp. 1947 § 45.05.10.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.105 - Foreign or alien insurers—Three years active transacting required—Exception.

RCW 48.05.105
Foreign or alien insurers—Three years active transacting required—Exception.
(1) No certificate of authority shall be granted to a foreign or alien applicant that has not actively transacted for three years the classes of insurance for which it seeks to be admitted.
(2) Subsection (1) of this section does not apply to the following:
(a) Any subsidiary of a seasoned, reputable insurer that has held a certificate of authority in this state for at least three years; or
(b) Any applicant that:
(i) Has surplus of not less than twenty-five million dollars; and
(ii) Has made a deposit with the commissioner in the amount of one million dollars for the sole benefit of the applicant's Washington policyholders.
(3) The commissioner shall release the deposit to an authorized insurer who originally met the requirement in subsection (2)(b)(ii) of this section, in accordance with chapter 48.16 RCW, if:
(a) The certificate of authority was issued at least three years prior to application for release of the deposit; and
(b) The insurer is in good standing with the commissioner.
[ 2010 c 93 § 1; 1967 c 150 § 2.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.110 - Issuance of certificate of authority.

RCW 48.05.110
Issuance of certificate of authority.
If the commissioner finds that an insurer has met the requirements for and is fully entitled thereto under this code, he or she shall issue to it a proper certificate of authority. If the commissioner does not so find, the authority shall be refused within a reasonable length of time following completion by the insurer of the application therefor.
[ 2009 c 549 § 7015; 1947 c 79 § .05.11; Rem. Supp. 1947 § 45.05.11.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.120 - Certificate of authority—Duration, renewal, amendment.

RCW 48.05.120
Certificate of authority—Duration, renewal, amendment.
(1) All certificates of authority shall continue in force until suspended, revoked, or not renewed. A certificate shall be subject to renewal annually on the first day of July upon application of the insurer and payment of the fee therefor. If not so renewed, the certificate shall expire as of the thirtieth day of June next preceding.
(2) The commissioner may amend a certificate of authority at any time in accordance with changes in the insurer's charter or insuring powers.
[ 1957 c 193 § 3; 1955 c 31 § 1; 1947 c 79 § .05.12; Rem. Supp. 1947 § 45.05.12.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.130 - Certificate of authority—Mandatory refusal, revocation, suspension.

RCW 48.05.130
Certificate of authority—Mandatory refusal, revocation, suspension.
The commissioner shall refuse to renew or shall revoke or suspend an insurer's certificate of authority, in addition to other grounds therefor in this code, if the insurer:
(1) Is a foreign or alien insurer and no longer qualifies or meets the requirements for the authority; or, is a domestic mutual or domestic reciprocal insurer, and fails to make good a deficiency of assets as required by the commissioner.
(2) Is a domestic stock insurer and has assets less in amount than its liabilities, including its capital stock as a liability, and has failed to make good such deficiency as required by the commissioner.
(3) Knowingly exceeds its charter powers or its certificate of authority.
[1947 c 79 § .05.13; Rem. Supp. 1947 § 45.05.13.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.150 - Notice of intention to refuse, revoke, or suspend.

RCW 48.05.150
Notice of intention to refuse, revoke, or suspend.
The commissioner shall give an insurer notice of his or her intention to suspend, revoke, or refuse to renew its certificate of authority not less than ten days before the order of suspension, revocation or refusal is to become effective; except that no advance notice of intention is required where the order results from a domestic insurer's failure to make good a deficiency of assets as required by the commissioner.
[ 2009 c 549 § 7016; 1947 c 79 § .05.15; Rem. Supp. 1947 § 45.05.15.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.160 - Period of suspension.

RCW 48.05.160
Period of suspension.
The commissioner shall not suspend an insurer's certificate of authority for a period in excess of one year, and he or she shall state in his or her order of suspension the period during which it shall be effective.
[ 2009 c 549 § 7017; 1947 c 79 § .05.16; Rem. Supp. 1947 § 45.05.16.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.170 - Reauthorization, limitation upon.

RCW 48.05.170
Reauthorization, limitation upon.
No insurer whose certificate of authority has been suspended, revoked, or refused shall subsequently be authorized unless the grounds for such suspension, revocation, or refusal no longer exist and the insurer is otherwise fully qualified.
[1947 c 79 § .05.17; Rem. Supp. 1947 § 45.05.17.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.180 - Notice of refusal, revocation, suspension—Effect upon insurance producers' or title insurance agents' authority.

RCW 48.05.180
Notice of refusal, revocation, suspension—Effect upon insurance producers' or title insurance agents' authority.
Upon the suspension, revocation or refusal of an insurer's certificate of authority, the commissioner shall give notice thereof to the insurer and shall likewise suspend, revoke or refuse the authority of its appointed insurance producers or title insurance agents to represent it in this state and give notice thereof to these insurance producers or title insurance agents.
[ 2008 c 217 § 3; 1947 c 79 § .05.18; Rem. Supp. 1947 § 45.05.18.]
NOTES:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.185 - Fine in addition or in lieu of suspension, revocation, or refusal.

RCW 48.05.185
Fine in addition or in lieu of suspension, revocation, or refusal.
After hearing or with the consent of the insurer and in addition to or in lieu of the suspension, revocation, or refusal to renew any certificate of authority the commissioner may levy a fine upon the insurer in an amount not less than two hundred fifty dollars and not more than ten thousand dollars. The order levying such fine shall specify the period within which the fine shall be fully paid and which period shall not be less than fifteen nor more than thirty days from the date of such order. Upon failure to pay any such fine when due the commissioner shall revoke the certificate of authority of the insurer if not already revoked, and the fine shall be recovered in a civil action brought in behalf of the commissioner by the attorney general. Any fine so collected shall be paid by the commissioner to the state treasurer for the account of the general fund.
[ 1980 c 102 § 1; 1975 1st ex.s. c 266 § 3; 1965 ex.s. c 70 § 3.]
NOTES:
Severability—1975 1st ex.s. c 266: See note following RCW 48.01.010.
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.190 - Name of insurer.

RCW 48.05.190
Name of insurer.
(1) Every insurer shall conduct its business in its own legal name.
(2) No insurer shall assume or use a name deceptively similar to that of any other authorized insurer.
[1947 c 79 § .05.19; Rem. Supp. 1947 § 45.05.19.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.200 - Commissioner as attorney for service of process—Exception.

RCW 48.05.200
Commissioner as attorney for service of process—Exception.
(1) Each authorized foreign or alien insurer must appoint the commissioner as its attorney to receive service of, and upon whom must be served, all legal process issued against it in this state upon causes of action arising within this state. Service upon the commissioner as attorney constitutes service upon the insurer. Service of legal process against the insurer can be had only by service upon the commissioner, except actions upon contractor bonds pursuant to RCW 18.27.040, where service may be upon the department of labor and industries.
(2) With the appointment the insurer must designate by name, email address, and address the person to whom the commissioner must forward legal process so served upon him or her. The insurer may change the person by filing a new designation.
(3) The insurer must keep the designation, address, and email address filed with the commissioner current.
(4) The appointment of the commissioner as attorney is irrevocable, binds any successor in interest or to the assets or liabilities of the insurer, and remains in effect as long as there is in force in this state any contract made by the insurer or liabilities or duties arising therefrom.
(5) The service of process must be accomplished and processed in the manner prescribed under RCW 48.02.200.
[ 2011 c 47 § 5; 1985 c 264 § 3; 1947 c 79 § .05.20; Rem. Supp. 1947 § 45.05.20.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.215 - Unauthorized foreign or alien insurers—Jurisdiction of state courts—Service of process—Procedure.

RCW 48.05.215
Unauthorized foreign or alien insurers—Jurisdiction of state courts—Service of process—Procedure.
(1) Any foreign or alien insurer not authorized by the commissioner, whether it be a surplus lines insurer operating under chapter 48.15 RCW or not, who, by mail or otherwise, solicits insurance business in this state or transacts insurance business in this state as defined by RCW 48.01.060, thereby submits itself to the jurisdiction of the courts of this state in any action, suit, or proceeding instituted by or on behalf of an insured, beneficiary or the commissioner arising out of an unauthorized solicitation of insurance business, including, but not limited to, an action for injunctive relief by the commissioner.
(2) In any action, suit, or proceeding instituted by or on behalf of an insured or beneficiary, service of legal process against an unauthorized foreign or alien insurer must be accomplished and processed in the manner prescribed under RCW 48.02.200. The defendant insurer has forty days from the date of the service on the commissioner within which to plead, answer, or otherwise defend the action.
(3) In any such action, suit, or proceeding by the commissioner, service of legal process against an unauthorized foreign or alien insurer may be made by personal service of legal process upon any officer of such insurer at its last known principal place of business outside the state of Washington. The summons upon an unauthorized foreign or alien insurer must contain the same requisites and be served in like manner as personal summons within the state of Washington; except, the insurer has forty days from the date of personal service within which to plead, answer, or otherwise defend the action.
[ 2011 c 47 § 6; 1981 c 339 § 4; 1967 c 150 § 3.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.220 - Venue of actions against insurer.

RCW 48.05.220
Venue of actions against insurer.
Suit upon causes of action arising within this state against an insurer upon an insurance contract shall be brought in the county where the cause of action arose.
[1947 c 79 § .05.22; Rem. Supp. 1947 § 45.05.22.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.250 - Annual statement.

RCW 48.05.250
Annual statement.
(1) Each domestic insurer shall annually, on or before the first day of March, file with the commissioner a true statement of its financial condition, transactions, and affairs as of the thirty-first day of December preceding. The statement forms shall be in general form and context as approved by the National Association of Insurance Commissioners for the kinds of insurance to be reported upon, and as supplemented for additional information required by this code and by the commissioner. The statement shall be verified by the oaths of at least two of the insurer's officers.
(2) The annual statement of an alien insurer shall relate only to its transactions and affairs in the United States unless the commissioner requires otherwise. The statement shall be verified by the insurer's United States manager or by its officers duly authorized.
(3) The commissioner shall suspend or revoke the certificate of authority of any insurer failing to file its annual statement when due or during any extension of time therefor which the commissioner, for good cause, may grant.
[ 2006 c 25 § 5; 1983 c 85 § 1; 1947 c 79 § .05.25; Rem. Supp. 1947 § 45.05.25.]
NOTES:
Advertising of financial condition: RCW 48.30.070.
Assets and liabilities: Chapter 48.12 RCW.
False financial statements: RCW 48.30.030.
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.270 - Alien insurer—Capital funds, determination.

RCW 48.05.270
Alien insurer—Capital funds, determination.
(1) The capital funds of an alien insurer shall be deemed to be the amount by which its assets, deposited and otherwise held as provided in RCW 48.05.090 exceed its liabilities with respect to its business transacted in the United States.
(2) Assets of such insurer held in any state for the special protection of policyholders and obligees in such state shall not constitute assets of the insurer for the purposes of this code. Liabilities of the insurer so secured by such assets, but not exceeding the amount of such assets, may be deducted in computing the insurer's liabilities for the purpose of this section.
[1947 c 79 § .05.27; Rem. Supp. 1947 § 45.05.27.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.280 - Records and accounts of insurers.

RCW 48.05.280
Records and accounts of insurers.
Every insurer shall keep full and adequate accounts and records of its assets, obligations, transactions, and affairs.
[1947 c 79 § .05.28; Rem. Supp. 1947 § 45.05.28.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.290 - Withdrawal of insurer—Reinsurance.

RCW 48.05.290
Withdrawal of insurer—Reinsurance.
(1) No insurer shall withdraw from this state until its direct liability to its policyholders and obligees under all its insurance contracts then in force in this state has been assumed by another authorized insurer under an agreement approved by the commissioner. In the case of a life insurer, its liability pursuant to contracts issued in this state in settlement of proceeds under its policies shall likewise be so assumed.
(2) The commissioner may waive this requirement if he or she finds upon examination that a withdrawing insurer is then fully solvent and that the protection to be given its policyholders in this state will not be impaired by the waiver.
(3) The assuming insurer shall within a reasonable time replace the assumed insurance contracts with its own, or by endorsement thereon acknowledge its liability thereunder.
[ 2009 c 549 § 7019; 1947 c 79 § .05.29; Rem. Supp. 1947 § 45.05.29.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.320 - Reports of fire losses.

RCW 48.05.320
Reports of fire losses.
(1) Each authorized insurer shall promptly report to the chief of the Washington state patrol, through the director of fire protection, upon forms as prescribed and furnished by him or her, each fire loss of property in this state reported to it and whether the loss is due to criminal activity or to undetermined causes.
(2) Each such insurer shall likewise report to the chief of the Washington state patrol, through the director of fire protection, upon claims paid by it for loss or damage by fire in this state. Copies of all reports required by this section shall be promptly transmitted to the state insurance commissioner.
[ 1995 c 369 § 24; 1986 c 266 § 66; 1985 c 470 § 16; 1947 c 79 § .05.32; Rem. Supp. 1947 § 45.05.32.]
NOTES:
Effective date—1995 c 369: See note following RCW 43.43.930.
Severability—1986 c 266: See note following RCW 38.52.005.
Severability—Effective date—1985 c 470: See notes following RCW 43.44.010.
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.330 - Insurers—Combination of kinds of insurance authorized—Exceptions.

RCW 48.05.330
Insurers—Combination of kinds of insurance authorized—Exceptions.
An insurer which otherwise qualifies therefor may be authorized to transact any one kind or combinations of kinds of insurance as defined in chapter 48.11 RCW, except:
(1) A life insurer may grant annuities and may be authorized to transact in addition only disability insurance; except, that the commissioner may, if the insurer otherwise qualifies therefor, continue so to authorize any life insurer which immediately prior to June 13, 1963 was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and disability insurances and annuity business.
(2) A reciprocal insurer shall not transact life insurance.
(3) A title insurer shall be a stock insurer and shall not transact any other kind of insurance. This provision shall not prohibit the ceding of reinsurance by a title insurer to insurers other than mutual or reciprocal insurers.
[ 1963 c 195 § 6.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.350 - General casualty insurer combining disability, fidelity, insurance.

RCW 48.05.350
General casualty insurer combining disability, fidelity, insurance.
An insurer authorized to transact general casualty insurance shall be authorized to transact disability insurance and fidelity insurance without requiring additional financial qualifications.
[ 1963 c 195 § 8.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.370 - Fiduciary relationship to insurer of officers, directors or corporation holding controlling interest.

RCW 48.05.370
Fiduciary relationship to insurer of officers, directors or corporation holding controlling interest.
Officers and directors of an insurer or a corporation holding a controlling interest in an insurer shall be deemed to stand in a fiduciary relation to the insurer, and shall discharge the duties of their respective positions in good faith, and with that diligence, care and skill which ordinary prudent persons would exercise under similar circumstances in like positions.
[ 2009 c 549 § 7020; 1969 ex.s. c 241 § 1.]
2023 Revised Code of Washington › Title 48 - Insurance › Chapter 48.05 - Insurers—General Requirements. › 48.05.380 - Reports by property and casualty insurers—Rules.

RCW 48.05.380
Reports by property and casualty insurers—Rules.
The insurance commissioner shall adopt rules requiring insurers who are authorized to write property and casualty insurance in the state of Washington to record and report their Washington state loss and expense experiences and other data, as required by RCW 48.05.390. These rules may not require a report to be submitted by any insurer that has no data or experience to report.
[ 2002 c 22 § 1; 1986 c 148 § 1; 1985 c 238 § 1.]
NOTES:
Effective date—1985 c 238: "The requirements of RCW 48.05.380 and 48.05.390 shall commence with the year-end report for the reporting period ending December 31, 1986. In addition, the data required under RCW 48.05.390 shall be provided for the years 1975 through 1985 and shall be filed with the commissioner on or before March 1, 1986." [ 1985 c 238 § 3.]
Severability—1985 c 238: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 1985 c 238 § 4.]
2023 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.]
2023 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.
2023 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.]
2023 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.
2023 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.
2023 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.
2023 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.]