5693-S.E AMH DENT BUNC 259

ESSB 5693 - H AMD TO H AMD (H-2871.1/22) 1157

By Representative Dent

NOT ADOPTED 02/26/2022

On page 155, line 22, increase the Insurance Commissioner's Regulatory Account-State Appropriation by $100,000

On page 155, line 27, correct the total.

On page 159, after line 39, insert the following:

"(17)(a) $100,000 of the insurance commissioner's regulatory account—state appropriation is provided solely for the commissioner to coordinate with the utilities and transportation commission to jointly convene a utility liability insurance work group and report its findings to the governor and the appropriate committees of the legislature by June 1, 2023.

(b) The work group must include:

(i) two members representing investor-owned utilities;

(ii) two members representing consumer-owned utilities;

(iii) at least one member from central or eastern Washington; and

(iv) two representatives of the insurance industry.

(c) The work group shall:

(i) Review the availability and cost of liability insurance for electric utilities;

(ii) Identify obstacles to electric utility access to liability insurance, including market conditions as well as legal and regulatory requirements;

(iii) Evaluate financial risk to electric utilities, ratepayers, property owners, and others that exists as a result of the increased cost of insurance or in the event electric utilities are underinsured as a result of a lack of access to coverage; and

(iv) Make policy recommendations to improve access to liability insurance coverage for electric utilities.

(d) In conducting the tasks of the work group, utilities may not be required to provide commercially sensitive information, including insurance terms and costs.

(e) The commissioner may contract services to assist in the work group's efforts."

On page 162, line 12, increase the General Fund-State Appropriation for fiscal year 2023 by $50,000

On page 162, line 24, correct the total.

On page 164, after line 16, insert the following:

"(9) $50,000 of the general fund—state appropriation for fiscal year 2023 is provided solely for commission to coordinate with the office of the insurance commissioner to convene a utility liability insurance work group and report its finding to the governor and the appropriate committees of the legislature by June 1, 2023."

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