Transfers to unauthorized insurers.
Where a Washington resident owns an insurance contract issued by a company authorized to do business in Washington, that company may not transfer such insurance contract to a company which is not authorized to do business in Washington. Acting as the assuming company in a transfer of insurance involving a Washington risk constitutes the transaction of insurance for which a Washington certificate of authority, license, or registration is required.
[Statutory Authority: RCW 48.02.060
. WSR 91-23-064 (Order R 91-9), § 284-95-070, filed 11/18/91, effective 12/19/91.]