PREPROPOSAL STATEMENT OF INQUIRY
Subject of Possible Rule Making: Cancellation of policies by insureds (other than life insurance and annuity contracts).
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: RCW 48.18.300 provides that insureds may cancel property and casualty insurance policies by providing written notice to the insurance company. There has been some confusion as to whether or not other methods of canceling these types of insurance policies by the insureds is permitted. This rule will clarify the permitted methods of cancellation of property and casualty insurance policies. The rule does not affect life, disability or managed care contracts.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Submit written comments by May 30, 2008, to Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, fax (360) 586-3109, e-mail KacyS@oic.wa.gov.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, fax (360) 586-3109, e-mail KacyS@oic.wa.gov.
April 23, 2008