SSB 5665, enacted in 2009 (chapter 314, Laws of 2009), gives affordable housing entities the authority to jointly self-insure property and liability risks in a multiple state risk-sharing program regulated by the state risk manager. SSB 5665, section 6 requires the state risk manager to adopt rules that include standards for management, operations, and solvency, including frequency of actuarial analyses and claims audits. It is anticipated that the rules will be finally adopted in February with an effective date this spring.
If you have any questions, please feel free to contact Roselyn Marcus at (360) 902-0568.
Director of Legal Affairs