WSR 18-21-117
PERMANENT RULES
OFFICE OF THE
INSURANCE COMMISSIONER
[Insurance Commissioner Matter R 2018-05—Filed October 17, 2018, 12:08 p.m., effective November 17, 2018]
Effective Date of Rule: Thirty-one days after filing.
Purpose: Remove outdated reference to 1992 convention blank.
Citation of Rules Affected by this Order: Amending WAC 284-13-160.
Adopted under notice filed as WSR 18-16-031 on July 24, 2018.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at the Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's own Initiative: New 0, Amended 1, Repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.
Number of Sections Adopted using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0.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: October 17, 2018.
Mike Kreidler
Insurance Commissioner
AMENDATORY SECTION(Amending WSR 93-19-004, filed 9/1/93, effective 10/2/93)
WAC 284-13-160Definition of "earned surplus."
(1) As used in RCW
48.08.030(1), "earned surplus" means that part of surplus that represents net earnings, gains, or profits, after deduction of all losses, that have not been distributed to share holders as dividends or transferred to stated capital or capital surplus or lawfully applied to other purposes. It does not include unrealized appreciation of assets, unrealized capital gains, or reevaluation of assets.
(2) Earned surplus can be determined from the annual statement. ((On the 1992 convention blank,))
(a) For stock life companies, earned surplus is unassigned funds (((page 3, line 34))) less any unrealized gains included in that figure; and
(b) For property and casualty stock companies, earned surplus is unassigned funds (((page 3, line 25B))), less any unrealized gains included in that figure. ((On convention blanks for other years, the determination is adjusted to allow for changes in the form.))