| Passed by the Senate March 9, 2004 YEAS 48 ________________________________________ President of the Senate Passed by the House March 3, 2004 YEAS 96 ________________________________________ Speaker of the House of Representatives | I, Milton H. Doumit, Jr., Secretary of the Senate of the State of Washington, do hereby certify that the attached is ENGROSSED SENATE BILL 6158 as passed by the Senate and the House of Representatives on the dates hereon set forth. ________________________________________ Secretary | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 58th Legislature | 2004 Regular Session |
Read first time 01/14/2004. Referred to Committee on Financial Services, Insurance & Housing.
AN ACT Relating to the Washington insurance guarantee association act; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 The legislature finds that the consumers who
purchase workers' compensation insurance from the private marketplace
in Washington are not protected from the insolvency and liquidation of
these insurers. The legislature further finds that it is in the best
interest of the citizens of this state to provide a mechanism to
protect these policyholders from the insolvency of their insurers. The
insurance commissioner shall study the impact of covering workers'
compensation policies purchased on the commercial market under the
Washington guarantee association.
The insurance commissioner shall study and develop recommendations
regarding the following:
The impact and effectiveness of covering longshore and harbor
workers' compensation act insurance, as defined in 33 U.S.C. Sec. 901
et seq., under the Washington guarantee association. In the conduct of
this study, the insurance commissioner shall consult with appropriate
state agencies; United States longshore and harbor workers'
compensation act insurers; insurance carriers; insurance agents and
brokers; organized labor; the United States longshore and harbor
workers' compensation act assigned risk plan; and maritime employers.
The department of labor and industries shall consult with this study on
an ex officio basis.
The insurance commissioner also shall examine the impact of
excluding from guarantee protection workers' compensation policies
purchased on the commercial market for employments identified in RCW
51.12.020 and the impact of excluding workers' compensation policies
purchased by tribal employers and other groups affected by commercial
market workers' compensation products.
The insurance commissioner shall report the results of these
studies to the legislature not later than December 1, 2004.