PREPROPOSAL STATEMENT OF INQUIRY
INSURANCE COMMISSIONER
Subject of Possible Rule Making: Amendment to the mortality table rules as set forth in chapter 284-74 WAC.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060, 48.02.160(1).
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The commissioner proposes to adopt the National Association of Insurance Commissioner's (NAIC) - "Model Regulation Permitting the Recognition of Preferred Mortality Tables for use in Determining Minimum Reserve Liabilities" number 815. Life insurance companies would then be able to use these tables when setting reserves for life products in Washington state.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Adoption of NAIC optional model regulation.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Meg L. Jones, P.O. Box 40258, Olympia, WA 98504-0258, e-mail megj@oic.wa.gov, phone (360) 725-7170, fax (360) 586-3109. Comment period closes March 3, 2011.
January 19, 2011
Mike Kreidler
Insurance Commissioner