PREPROPOSAL STATEMENT OF INQUIRY
INSURANCE COMMISSIONER
Subject of Possible Rule Making: Establishing a market assistance plan for liability insurance, Insurance Commissioner Matter No. R 2004-02.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060 and 48.22.050.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The commissioner is concerned about the availability, adequacy, and the cost of liability insurance. Consumers seeking to buy a variety of liability insurance products have contacted the commissioner about problems finding insurers to provide coverage, the adequacy of the coverage being offered, and the price of liability insurance. Following a legislative directive, the Office of Insurance Commissioner is researching the nature and scope of problems in the liability insurance market. This research may demonstrate the need for a number of alternative solutions to this problem, including creation of a market assistance plan.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Agency study; and sending written comments by August 9, 2004, to Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0255, e-mail Kacys@oic.wa.gov, fax (360) 586-3109.
June 23, 2004
Mike Kreidler
Insurance Commissioner