WSR 17-15-086 PREPROPOSAL STATEMENT OF INQUIRY OFFICE OF INSURANCE COMMISSIONER [Insurance Commissioner Matter No. R 2017-10—Filed July 17, 2017, 4:08 p.m.]
Subject of Possible Rule Making: Surplus line broker licensing.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: SHB 1027, recently enacted by the legislature, amends the surplus line broker licensing statute to provide that the office of the insurance commissioner (OIC) will: (1) License a nonresident applicant for a surplus line broker license if the person's resident state issues nonresident surplus line broker license[s] to residents of this state, and (2) waive the examination requirement if a licensed nonresident surplus line broker moves to this state and wishes to become licensed as a resident surplus line broker and their application is received by OIC within ninety days of the cancellation of the broker's resident license in the other state.
The amendments in SHB 1027 differ from those contained in WAC 284-15-010(2) and the amendments fully set out this aspect of the licensing of nonresident surplus line brokers; therefore, this subsection of WAC should be repealed.
Process for Developing New Rule: Submit written comments by September 1, 2017, to Stacy Middleton, P.O. [Box] 40258, Olympia, WA 98504-0258, rulescoordinator@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 Stacy Middleton, P.O. [Box] 40258, Olympia, WA 98504-0258, (360) 725-9651, rulescoordinator@oic.wa.gov.
July 17, 2017
Mike Kreidler
Insurance Commissioner
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