BILL REQ. #: H-4084.1
| State of Washington | 58th Legislature | 2004 Regular Session |
Read first time 01/21/2004. Referred to Committee on Financial Institutions & Insurance.
AN ACT Relating to underwriting medical malpractice coverage; and adding a new section to chapter 48.19 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 48.19 RCW
to read as follows:
(1) For the purposes of this section, "underwrite" means the
process of selecting, rejecting, or pricing a risk, and includes each
of these processes:
(a) Evaluation, selection, and classification of risk;
(b) Application of rates, rating rules, and classification plans to
risks that are accepted; and
(c) Determining eligibility for:
(i) Coverage provisions;
(ii) Providing or limiting the amount of coverage or policy limits;
or
(iii) Premium payment plans.
(2) Each medical malpractice insurer must file its underwriting
rules, guidelines, criteria, standards, or other information the
insurer uses to underwrite medical malpractice coverage.
(a) Every filing of underwriting information must identify and
explain:
(i) The class, type, and extent of coverage provided by the
insurer;
(ii) Any changes that have occurred to the underwriting standards;
and
(iii) How underwriting changes are expected to affect future
losses.
(b) The information under (a) of this subsection must be filed with
the commissioner at least thirty days before it becomes effective and
is subject to public disclosure upon receipt by the commissioner.