(1) All goods or services, or both, that are approved by the commissioner to be included within a property insurer's risk reduction program, or pilot risk reduction program, or both, must be implemented by the insurer to reduce either the probability of damage or extent of damage, or both, by a peril covered under the property policy, and may include:
(a) Smoke alarms;
(b) Fire extinguishers;
(c) Natural gas detectors;
(d) Brush and other wildfire fuel source removal services;
(e) Water monitors;
(f) Water shut off systems;
(g) Earthquake strapping;
(h) Locking mechanisms to secure property;
(i) Lightning protection devices;
(j) Security lighting;
(k) Security camera systems;
(l) Home safety monitoring systems; and
(m) Other goods or services, or both, the commissioner may approve through a form filing.
(2) A voucher provided from the insurer to the insured for either goods or services, or both, is only permissible for those items as described in subsection (1) of this section and must fully redeem either the goods or services, or both, being used in the risk reduction program.
(3) Under RCW 48.18.559
, the commissioner may increase the value of goods and services permitted under RCW 48.18.558
. The limit to the value of goods and services to be provided is increased to seven thousand five hundred dollars in value in aggregate in any twelve-month period if the insurer:
(a) Submits a rate filing with the information required by RCW 48.19.530
(b) Includes an explanation and exhibit in the filing showing that the present value of the expected reduction in claims costs arising from the goods and services, over the service life of the goods and services, is greater than, or equal to, the total cost to the insurer of the goods and services.
[Statutory Authority: RCW 48.02.060
(3) and 48.18.559
. WSR 20-23-004 (R 2020-01), § 284-33-030, filed 11/5/20, effective 1/1/21. Statutory Authority: RCW 48.02.60 [48.02.060] and 48.18.559
. WSR 18-24-084 (R 2018-11), § 284-33-030, filed 12/3/18, effective 1/3/19.]