HOUSE BILL REPORT

HB 1791

BYRepresentatives Chandler, Dellwo and Day; by request of Insurance Commissioner

Revising provisions for industrial insurance funds.

House Committe on Financial Institutions & Insurance

Majority Report:  Do pass.  (12)

      Signed by Representatives Dellwo, Chair; Zellinsky, Vice Chair; Chandler, Ranking Republican Member; Anderson, Baugher, Beck, Dorn, Inslee, P. King, Nutley, K. Wilson and Winsley.

House Staff:John Conniff (786-7119)

AS PASSED HOUSE MARCH 9, 1989

BACKGROUND:

The Insurance Commissioner is responsible for approving reserves and interest rates for funds established for payment of death or permanent total disability claims by the Department of Labor and Industries and self-insurers of workers compensation benefits.

SUMMARY:

The Insurance Commissioner's responsibility for approving reserve and interest rates for funds established for payment of death or permanent total disability claims by the Department of Labor and Industries and self-insurers of workers compensation benefits is repealed and the Department of Labor and Industries is given the responsibility.

Fiscal Note:      Not Requested.

House Committee ‑ Testified For:    Brett Buckley, Department of Labor and Industries.

House Committee - Testified Against:      No one.

House Committee - Testimony For:    The Department of Labor and Industries is capable of overseeing funds established for the payment of death or permanent total disability claims and can save both time and money by using actuaries other than through the Insurance Commissioner's office.

House Committee - Testimony Against:      None.

VOTE ON FINAL PASSAGE:

      Yeas 95; Excused 3 - 1989

Excused:    Representatives Day, Dellwo and Hankins