WSR 11-16-031

PERMANENT RULES

OFFICE OF

INSURANCE COMMISSIONER

[ Insurance Commissioner Matter No. R 2011-07 -- Filed July 27, 2011, 9:51 a.m. , effective August 27, 2011 ]


Effective Date of Rule: Thirty-one days after filing.

Purpose: The rule amends WAC 284-29A-030 to postpone by one year the date upon which title insurers must file their rates with the commissioner under RCW 48.29.147 and when rate filings must be made under RCW 48.29.147 rather than RCW 48.29.140.

Citation of Existing Rules Affected by this Order: Amending WAC 284-29A-030.

Statutory Authority for Adoption: RCW 48.02.060 and 48.29.140.

Adopted under notice filed as WSR 11-13-126 on June 22, 2011.

A final cost-benefit analysis is available by contacting Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, phone (360) 725-7036, fax (360) 586-3109, e-mail jimt@oic.wa.gov.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0.

Date Adopted: July 27, 2011.

Mike Kreidler

Insurance Commissioner

OTS-3966.1


AMENDATORY SECTION(Amending Matter No. R 2009-01, filed 7/20/10, effective 8/20/10)

WAC 284-29A-030   Transition to prior approval system.   (1) On and after January 1, ((2012)) 2013, all rates used in Washington state must be filed and approved under RCW 48.29.147.

(2) Title insurers must submit the rate filings required under RCW 48.29.147 and subsection (1) of this section to the commissioner by September 1, ((2011)) 2012, for rates to be effective on January 1, ((2012)) 2013. This rule allows the commissioner time to take final action on rates filed under this chapter before the effective date of January 1, ((2012)) 2013.

(3) Rates filed under RCW 48.29.140(2) must not be used for commitments issued on or after January 1, ((2012)) 2013.

[Statutory Authority: RCW 48.02.060 and 48.29.005. 10-15-092 (Matter No. R 2009-01), 284-29A-030, filed 7/20/10, effective 8/20/10.]

Washington State Code Reviser's Office