WSR 16-21-070

WITHDRAWAL OF PROPOSED RULES

[Filed October 17, 2016, 11:27 a.m.]

The office of the insurance commissioner is withdrawing the CR-102 for R 2015-06: Payee notifications, published [WAC 284-30-396] in WSR 16-08-024.

Our agency's reason for proposing the rule was to protect consumers in cases where an attorney received the settlement proceeds from an insurer for his client but then failed to fully transfer those proceeds to the consumer. However, the insurance industry has raised concerns about potential unforeseen costs in identifying affected insurance consumers and providing them with the notices the proposed rule would require. Our agency believes it will take some additional time to find a reasonable balance between these concerns and the need to protect insurance consumers. For this reason, our agency is withdrawing the CR-102.

We will contact individuals that provided comments during the CR-102 comment period, to notify them that we have withdrawn the CR-102.

Mike Kreidler

Insurance Commissioner