Title 48 — Title 48 INSURANCE
101 chapters · 2,134 sections in this title.
RCW 48.92.110 Penalties.
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A risk retention group which violates any provision of this chapter shall be subject to fines and penalties applicable to licensed insurers generally, including revocation of its license and/or the right to do business in this state.[ 1987 c 306 s 11.]
RCW 48.92.120 Soliciting, negotiating, or procuring liability insurance—License required.
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(1) A person may not act or aid in any manner in soliciting, negotiating, or procuring liability insurance in this state from a risk retention group unless the person is licensed as an insurance producer for casualty insurance in accordance with chapter 48.17 RCW and pays the fee…
RCW 48.92.130 Federal injunctions.
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An order issued by any district court of the United States enjoining a risk retention group from soliciting or selling insurance, or operating, in any state or in all states or in any territory or possession of the United States, upon a finding that the group is in a hazardous fi…
RCW 48.92.140 Rules.
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The commissioner may establish and from time to time amend the rules relating to risk retention or purchasing groups as may be necessary or desirable to carry out the provisions of this chapter.[ 1993 c 462 s 103; 1987 c 306 s 14.]Notes:Severability—Implementation—1993 c 462: See…
RCW 48.94.005 Definitions.
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The definitions set forth in this section apply throughout this chapter:(1) "Actuary" means a person who is a member in good standing of the American academy of actuaries.(2) "Controlling person" means a person, firm, association, or corporation who directly or indirectly has the…
RCW 48.94.010 Acting as a reinsurance intermediary-broker or reinsurance intermediary-manager—Commissioner's powers—Licenses—Attorney exemption.
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(1) No person, firm, association, or corporation may act as a reinsurance intermediary-broker in this state if the person, firm, association, or corporation maintains an office either directly or as a member or employee of a firm or association, or an officer, director, or employ…
RCW 48.94.015 Written authorization required between a reinsurance intermediary-broker and an insurer—Minimum provisions.
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Brokers transactions between a reinsurance intermediary-broker and the insurer it represents in such capacity may be entered into only under a written authorization, specifying the responsibilities of each party. The authorization must, at a minimum, provide that:(1) The insurer …
RCW 48.94.020 Accounts and records maintained by reinsurance intermediary-broker—Access by insurer.
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(1) For at least ten years after expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a complete record for each transaction showing:(a) The type of contract, limits, underwriting restrictions…
RCW 48.94.025 Restrictions on insurer—Obtaining services—Employees—Financial condition of reinsurance intermediary.
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(1) An insurer may not engage the services of a person, firm, association, or corporation to act as a reinsurance intermediary-broker on its behalf unless the person is licensed as required by RCW 48.94.010(1).(2) An insurer may not employ an individual who is employed by a reins…
RCW 48.94.030 Contract required between a reinsurance intermediary-manager and a reinsurer—Minimum provisions.
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Transactions between a reinsurance intermediary-manager and the reinsurer it represents in such capacity may be entered into only under a written contract, specifying the responsibilities of each party, which shall be approved by the reinsurer's board of directors. At least thirt…
RCW 48.94.035 Restrictions on reinsurance intermediary-manager—Retrocessions—Syndicates—Licenses—Employees.
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The reinsurance intermediary-manager may not:(1) Cede retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may cede facultative retrocessions under obligatory automatic agreements if the contract with the reinsurer contains reinsurance underw…
RCW 48.94.040 Restrictions on reinsurer—Financial condition of reinsurance intermediary-manager—Loss reserves—Retrocessions—Termination of contract—Board of directors.
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(1) A reinsurer may not engage the services of a person, firm, association, or corporation to act as a reinsurance intermediary-manager on its behalf unless the person is licensed as required by RCW 48.94.010(2).(2) The reinsurer shall annually obtain a copy of statements of the …
RCW 48.94.045 Examination by commissioner.
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(1) A reinsurance intermediary is subject to examination by the commissioner. The commissioner has access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner.(2) A reinsurance intermediary-manager may be examined as if it …
RCW 48.94.050 Violations of chapter—Penalties—Judicial review.
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(1) A reinsurance intermediary, insurer, or reinsurer found by the commissioner, after a hearing conducted in accordance with chapters 48.17 and 34.05 RCW, to be in violation of any provision of this chapter, shall:(a) For each separate violation, pay a penalty in an amount not e…
RCW 48.94.055 Rule making.
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The commissioner may adopt reasonable rules for the implementation and administration of this chapter.[ 1993 c 462 s 33.]
RCW 48.94.900 Short title.
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This chapter may be known and cited as the reinsurance intermediary act.[ 1993 c 462 s 22.]
RCW 48.94.901 Severability—Implementation—1993 c 462.
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See RCW 48.31B.901 and 48.31B.902.
RCW 48.97.005 Definitions.
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated…
RCW 48.97.010 Application.
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This chapter applies to licensed insurers either domiciled in this state or domiciled in a state that is not an accredited state having in effect a substantially similar law. All provisions of the Insurer Holding Company Act, chapter 48.31B RCW, or its successor act, to the exten…
RCW 48.97.015 Business placed with a controlled insurer—Application of section—Exceptions—Written contract required—Audit committee—Report to commissioner.
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(1)(a) This section applies in a particular calendar year if in that calendar year the aggregate amount of gross written premium on business placed with a controlled insurer by a controlling producer is equal to or greater than five percent of the admitted assets of the controlle…
RCW 48.97.020 Relationship between producer and controlled insurer—Producer's duty to disclose—Subproducers.
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The producer, before the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling produc…
RCW 48.97.025 Producer's failure to comply with chapter—Commissioner's power—Damages—Penalties.
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(1)(a) If the commissioner believes that the controlling producer has not materially complied with this chapter, or a rule adopted or order issued under this chapter, the commissioner may after notice and opportunity to be heard, order the controlling producer to cease placing bu…
RCW 48.97.900 Short title.
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This chapter may be known and cited as the business transacted with producer-controlled property and casualty insurer act.[ 2008 c 217 s 79; 1993 c 462 s 16.]Notes:Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.
RCW 48.97.901 Severability—Implementation—1993 c 462.
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See RCW 48.31B.901 and 48.31B.902.
RCW 48.98.005 Definitions.
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.(1) "Actuary" means a person who is a member in good standing of the American academy of actuaries.(2) "Insurer" means a person having a certificate of authority in this s…
RCW 48.98.010 Requirements for managing general agent—License—Bond—Errors and omissions policy.
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(1) No person may act in the capacity of a managing general agent with respect to risks located in this state, for an insurer authorized by this state, unless that person is licensed in this state as an insurance producer, under chapter 48.17 RCW, for the lines of insurance invol…
RCW 48.98.015 Contract required between a managing general agent and an insurer—Minimum provisions.
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A managing general agent may not place business with an insurer unless there is in force a written contract between the managing general agent and the insurer that sets forth the responsibilities of each party and, where both parties share responsibility for a particular function…
RCW 48.98.020 Requirements for insurer—Audit, loss reserves, and on-site review of managing general agent—Notice to commissioner—Quarterly review of books and records—Board of director.
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(1) The insurer shall have on file an independent audited financial statement, in a form acceptable to the commissioner, of each managing general agent with which it is doing or has done business.(2) If a managing general agent establishes loss reserves, the insurer shall annuall…
RCW 48.98.025 Examinations—Acts of a managing general agent are acts of the insurer.
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The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing general agent may be examined as if it were the insurer, as provided in chapter 48.03 RCW.[ 1993 c 462 s 39.]
RCW 48.98.030 Violations of chapter—Penalties—Judicial review.
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(1) Subject to a hearing in accordance with chapters 34.05 and 48.04 RCW, upon a finding by the commissioner that any person has violated any provision of this chapter, the commissioner may order:(a) For each separate violation, a penalty in an amount of not more than one thousan…
RCW 48.98.035 Rule making.
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The commissioner may adopt rules for the implementation and administration of this chapter, that shall include but are not limited to licensure of managing general agents.[ 1993 c 462 s 41.]
RCW 48.98.040 Continued use of a managing general agent—Compliance with chapter.
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No insurer may continue to use the services of a managing general agent on and after January 1, 1994, unless that use complies with this chapter.[ 1993 c 462 s 42.]
RCW 48.98.900 Short title.
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This chapter may be known and cited as the managing general agents act.[ 1993 c 462 s 34.]
RCW 48.98.901 Severability—Implementation—1993 c 462.
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See RCW 48.31B.901 and 48.31B.902.
RCW 48.99.010 Uniform insurers liquidation act.
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This chapter may be known and cited as the uniform insurers liquidation act. For the purposes of this chapter:(1) "Insurer" means any person, firm, corporation, association, or aggregation of persons doing an insurance business and subject to the insurance supervisory authority o…
RCW 48.99.011 Insurer—Self-funded multiple employer welfare arrangement.
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A self-funded multiple employer welfare arrangement, as defined in RCW 48.125.010, is an insurer under this chapter.[ 2004 c 260 s 21.]Notes:Effective date—2004 c 260: See RCW 48.125.901.
RCW 48.99.017 Confidentiality of documents, materials, or other information—Commissioner's capacity as a receiver.
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(1) Documents, materials, or other information that the commissioner obtains under this chapter in the commissioner's capacity as a receiver, are records under the jurisdiction and control of the receivership court. These records are confidential by law and privileged, are not su…
RCW 48.99.020 Delinquency proceedings—Domestic insurers.
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(1) Whenever under the laws of this state a receiver is to be appointed in delinquency proceedings for an insurer domiciled in this state, the court shall appoint the commissioner as such receiver. The court shall direct the commissioner forthwith to take possession of the assets…
RCW 48.99.030 Delinquency proceedings—Foreign insurers.
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(1) Whenever under the laws of this state an ancillary receiver is to be appointed in delinquency proceedings for an insurer not domiciled in this state, the court shall appoint the commissioner as ancillary receiver. The commissioner shall file a petition requesting the appointm…
RCW 48.99.040 Claims of nonresidents against domestic insurer.
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(1) In a delinquency proceeding begun in this state against an insurer domiciled in this state, claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states, or with the domiciliary receiver. All claims must be fi…
RCW 48.99.050 Claims of residents against foreign insurer.
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(1) In a delinquency proceeding in a reciprocal state against an insurer domiciled in that state, claimants against such insurer, who reside within this state may file claims either with the ancillary receiver, if any, appointed in this state, or with the domiciliary receiver. Al…
RCW 48.99.060 Priority of certain claims.
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(1) In a delinquency proceeding against an insurer domiciled in this state, claims owing to residents of ancillary states shall be preferred claims if like claims are preferred under the laws of this state. All such claims whether owing to residents or nonresidents shall be given…
RCW 48.99.070 Attachment, garnishment, execution stayed.
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During the pendency of delinquency proceedings in this or any reciprocal state no action or proceeding in the nature of an attachment, garnishment, or execution shall be commenced or maintained in the courts of this state against the delinquent insurer or its assets. Any lien obt…
RCW 48.99.080 Severability—Uniformity of interpretation.
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(1) If any provision of this chapter or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of the chapter which can be given effect without the invalid provision or application, and to this end…
RCW 48.99.900 Severability—Implementation—1993 c 462.
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See RCW 48.31B.901 and 48.31B.902.
RCW 48.102.001 Short title.
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This chapter may be cited as the "life settlements act."[ 2009 c 104 s 1.]
RCW 48.102.006 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Advertisement" means any written, electronic, or printed communication or any communication by means of recorded telephone messages or transmitted on radio, television…
RCW 48.102.011 Licensing requirements for providers.
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(1) A person, wherever located, may not act as a provider with an owner who is a resident of this state or if there is more than one owner on a single policy and one of the owners is a resident of this state, without first having obtained a license from the commissioner.(2) An ap…
RCW 48.102.021 Licensing requirements for brokers.
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(1) Only a life insurance producer who has been duly licensed as a resident insurance producer with a lifeline of authority in this state or his or her home state for at least one year and is licensed as a nonresident producer in this state is permitted to operate as a broker.(2)…
RCW 48.102.031 License suspension, revocation, or refusal to renew—Fines.
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(1) If the commissioner finds that a broker:(a) Committed a fraudulent life settlement act;(b) Or any officer, partner, member, or director has been guilty of fraudulent or dishonest practices, is subject to a final administrative action, or is otherwise shown to be untrustworthy…