WSR 97-20-141

PREPROPOSAL STATEMENT OF INQUIRY

INSURANCE COMMISSIONER'S OFFICE

[Insurance Commissioner Matter No. R 97-5--Filed October 1, 1997, 10:48 a.m.]

Subject of Possible Rule Making: Adoption of NAIC model regulation for recognizing a new annuity mortality table for use in determining reserve liabilities for annuities.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: WAC 284-74-010 was adopted in 1987 and has not been amended since then. This proposed amendment will permit insurers to use a mortality table recently adopted by the NAIC.

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 submit comments in writing to Kacy Brandeberry by November 15, 1997. For questions concerning the content of the possible rule(s), call Melodie Bankers, (360) 586-3574.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Kacy Brandeberry, P.O. Box 40255, Olympia, WA 98504-0255, phone (360) 664-3790, FAX (360) 586-3535, TDD (350) [(360)] 664-3154, Internet KacyB@oic.wa.gov.

October 1, 1997

Greg J. Scully