S-4177               _______________________________________________

 

                                         SUBSTITUTE SENATE BILL NO. 4539

                        _______________________________________________

 

State of Washington                              49th Legislature                              1986 Regular Session

 

By Senate Committee on Financial Institutions (originally sponsored by Senators Moore, Bender, Deccio, von Reichbauer, Zimmerman, Johnson, Bauer, Williams, Vognild, Fleming, Conner, Rasmussen and Talmadge; by request of Joint Study Committee on Insurance Availability and Affordability)

 

 

Read first time 1/22/86.

 

 


AN ACT Relating to property and casualty insurance; adding a new chapter to Title 48 RCW; and declaring an emergency.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

 

          NEW SECTION.  Sec. 1.     The commissioner may by regulation establish a reasonable plan or plans for the equitable apportionment, among insurers licensed to write property or casualty insurance in this state, of property or casualty insurance or risks or losses thereunder for applicants for such insurance who are in good faith entitled to but are unable to procure insurance through ordinary methods.  When such plan has been adopted, all such insurers shall subscribe thereto and shall participate therein.  Any applicant for such insurance and any insurer affected may appeal to the commissioner from any ruling or decision of the manager or committee designated to operate such plan relative to acceptance or eligibility under the plan.  Premium rates for plans established under this chapter shall not be excessive, inadequate, or unfairly discriminatory and shall be calculated with the objective of maintaining such plans on a self-supporting basis.

 

          NEW SECTION.  Sec. 2.     Section 1 of this act shall constitute a new chapter in Title 48 RCW.

 

          NEW SECTION.  Sec. 3.     This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect immediately.