PREPROPOSAL STATEMENT OF INQUIRY
INSURANCE COMMISSIONER
Subject of Possible Rule Making: Insurance policies, the commissioner will review the provisions of chapter 284-20 WAC, including the regulation of standard fire policies. The review will contemplate changes to clarify and update the existing WAC sections and to improve the regulatory framework of the chapter. One specific area that will be reviewed is coverage and exclusions related to acts of terrorism.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060, 48.18.120, 48.05.280, 48.15.100, 48.15.170, and 48.30.010.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The commissioner is committed to [the] review of existing regulations to improve the clarity and efficiency of Title 284 WAC. Interested parties have also specifically requested that the commissioner review the subject of insurance coverage related to acts of terrorism. The commissioner will discuss these issues with interested parties and determine what changes will improve the code and regulatory framework.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: No other federal agency regulates this subject. The Office of the Insurance Commissioner will review federal, NAIC, and state insurance department's initiatives related to terrorism.
Process for Developing New Rule: Agency study; send written comments by September 29, 2003, 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.
August 20, 2003
Mike Kreidler
Insurance Commissioner