WSR 13-05-078




[ Insurance Commissioner Matter No. R 2013-06 -- Filed February 19, 2013, 4:32 p.m. ]

     Subject of Possible Rule Making: Filing of service contracts and insurance credit scoring models using the system for electronic rate and form filing (SERFF).

     Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 48.02.060, 48.18.545, 48.19.035, and 48.110.150.

     Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: SERFF is a key component of the National Association of Insurance Commissioners (NAIC) speed to market initiative. The SERFF system allows insurance companies and other entities to send and states to receive, comment on, and approve or reject, rate and form filings electronically. SERFF improves the efficiency of the rate and form filing and approval process and reduces the time involved in making regulatory filings, and provides that public records will be more accurate. The commissioner will consider rules to require motor vehicle service contract providers to file their service contract forms through SERFF and require insurers and insurance credit scoring vendors to file their insurance scoring models through SERFF.

     Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

     Process for Developing New Rule: Submit written comments by May 1, 2013, to Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-025 [98504-0258], e-mail, 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 Jim Tompkins, P.O. Box 40258, Olympia, WA 98504-0258, e-mail, fax (360) 586-3109.

February 19, 2013

Mike Kreidler

Insurance Commissioner