WSR 06-08-099

PREPROPOSAL STATEMENT OF INQUIRY

OFFICE OF THE

INSURANCE COMMISSIONER

[ Insurance Commissioner Matter No. R 2006-05 -- Filed April 5, 2006, 8:11 a.m. ]

Subject of Possible Rule Making: Reinsurance-intermediary broker and manager licensing and reporting.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060, 48.94.055.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Currently, reinsurance intermediary manager and broker licenses are issued for a single year, ending one year from the date of licensure; payment for the licenses is by advance fee payment as provided for by RCW 48.14.010 (1)(f). Subsequent one-year renewals are based on the original date of licensure. The commissioner will consider options to provide for the issuance of licenses having duration of up to thirty months, and to synchronize the reinsurance intermediary license renewals with those of other agent/broker licenses issued by the office of the insurance commissioner.

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; send written comments by May 15, 2006, to Kacy Scott, P.O. Box 40255, Olympia, WA 98504-0258, fax (360) 586-3109, e-mail KacyS@oic.wa.gov.

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, fax (360) 586-3109, e-mail KacyS@oic.wa.gov.

April 5, 2006

Mike Kreidler

Insurance Commissioner

Washington State Code Reviser's Office