WSR 15-15-132 PREPROPOSAL STATEMENT OF INQUIRY OFFICE OF INSURANCE COMMISSIONER [Insurance Commissioner Matter No. R 2015-09—Filed July 17, 2015, 11:51 a.m.]
Subject of Possible Rule Making: Credit for reinsurance.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060 and sections 7 (1)(b) and (c), (3)(b), (4), (5), and 15, chapter 63, Laws of 2015.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: In the 2015 legislative session, chapter 63, Laws of 2015, was enacted making changes to the statutes regarding the credit for reinsurance that domestic insurance companies are allowed on their financial statements. The proposed rules will consider amending the existing rules on credit for reinsurance to conform to the amendments made by this legislation.
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 September 4, 2015, to Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, rulescoordinator@oic.wa.gov, fax (360) 586-3109.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, rulescoordinator@oic.wa.gov, fax (360) 586-3109.
July 17, 2015
Mike Kriedler
Insurance Commissioner
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