Washington Administrative Code › Title 284 - Insurance Commissioner, Office of the › Chapter 284-29A - Title insurance rates › Section 284-29A-020 - Definitions

Current through Register Vol. 24-14, July 15, 2024
The definitions in this section apply to this chapter:
"Commitment" means the same as in
				RCW
				 48.29.010(3)(c).
"Complete filing" means a package of information containing
				rates, supporting information, documents and exhibits submitted to the
				commissioner electronically using the system for electronic rate and form
				filing (SERFF).
"Date filed" means the date a complete filing has been received
				and accepted by the commissioner.
"Filer" means a person, organization or other entity that files
				title insurance rates with the commissioner for a title insurer.
"NAIC" means the National Association of Insurance
				Commissioners.
"Nonresidential policies" means title insurance policies on
				properties that are not "residential policies" as defined below.
"Objection letter" means correspondence created in SERFF and
				sent by the commissioner to the filer that:
(a) Requests clarification, documentation or
			 other information;
(b) Explains
			 errors or omissions in the filing; or
(c) Disapproves the filing under
			 RCW
			  48.29.147.
"Policy" means a title policy as defined in
				RCW
				 48.29.010(3)(a), and
				includes endorsements.
"Producer" means:
(a)
			 A "producer of title insurance" as defined in WAC
			 284-29-205(8);
			 and
(b) An "associate of producers"
			 as defined in
			 RCW
			  48.29.010(3)(f).
"Rate" or "rates" means all classification manuals, rate and
				rule manuals, rating plans, rating schedules, minimum rates, class rates, and
				rating rules that title insurers must file under
				RCW
				 48.29.147.
"Residential policies" means title insurance policies that
				insure the title to real property having a house, individual condominium unit,
				mobile home permanently affixed to real estate, or other dwelling unit intended
				principally for the occupancy of from one to four families, but does not
				include multifamily structures intended for the use of five plus families,
				undeveloped lots, or real estate intended principally for business, commercial,
				industrial, religious, educational, or agricultural purposes even if some
				portion of the real estate is used for residential purposes.
"SERFF" means the system for electronic rate and form filing.
				SERFF is a proprietary NAIC computer-based application that allows insurers and
				other entities to create and submit rate, rule and form filings electronically
				to the commissioner.
"Title Company Statistical Report" means the data filing forms
				and instructions published on the commissioner's web site at
www.insurance.wa.gov
and incorporated
				into this chapter by reference. The data form and instructions are based upon
				the Title Agent Statistical Data Plan adopted by the NAIC.
"Title insurance agent" or "agent" has the same meaning as in
				RCW
				 48.17.010(15).
"Title insurance" has the same meaning as in
				RCW
				 48.11.100.
"Title insurer" means a title insurance company authorized to
				conduct title insurance business in this state under
				chapter
				48.05
				RCW.