WSR 16-07-082 PREPROPOSAL STATEMENT OF INQUIRY OFFICE OF
INSURANCE COMMISSIONER
[Insurance Commissioner Matter No. R 2016-04—Filed March 17, 2016, 2:32 p.m.]
Subject of Possible Rule Making: Title insurance agent affiliated business reports.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: RCW 48.29.015 requires that all title insurance agents annually file a report of their affiliated business ownership with the office of insurance commissioner. WAC 284-29-110 as adopted allows those title insurance agents who have no affiliated business ownership or who are wholly owned by a title insurer that is traded on a national stock not to file a report. This WAC section is in conflict with the statute and the proposed rules will consider repealing WAC 284-29-110.
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 May 6, 2016, to Jim Tompkins, P.O. Box 40260, Olympia, WA 98504-0260, e-mail 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 40260, Olympia, WA 98504-0260, e-mail rulescoordinator@oic.wa.gov, fax (360) 586-3109.
March 17, 2016
Mike Kreidler
Insurance Commissioner
|