WSR 17-23-009 PERMANENT RULES OFFICE OF THE INSURANCE COMMISSIONER [Insurance Commissioner Matter No. R 2017-10—Filed November 2, 2017, 11:18 a.m., effective January 1, 2018] Effective Date of Rule: January 1, 2018. Purpose: SHB 1027, enacted in 2017, amends the surplus lines 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 licenses 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 the provisions currently contained in WAC 284-15-010(2). Because these RCW amendments fully set out this aspect of the licensing of nonresident surplus line brokers this subsection of the WAC is proposed to be repealed. Citation of Rules Affected by this Order: Amending WAC 284-15-010. Adopted under notice filed as WSR 17-19-065 on September 13, 2017. Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 1, Repealed 0. Number of Sections Adopted at the Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0. Number of Sections Adopted on the Agency's own Initiative: New 0, Amended 0, Repealed 0. Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0. Number of Sections Adopted using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0. Date Adopted: November 2, 2017. Mike Kreidler Insurance Commissioner
AMENDATORY SECTION (Amending WSR 13-11-042, filed 5/13/13, effective 6/13/13)
WAC 284-15-010 Brokers—Surplus line brokers—Qualifications and examination.
(((1))) Each applicant for a resident surplus line broker's license must take and pass the required examination, meet the additional producer licensing requirement per RCW 48.15.070 and pay the required fee prior to acting as a surplus line broker. The examination will test an applicant's qualifications and competence in all areas of surplus line insurance. Current information about testing procedures and examination dates is available on the commissioner's web site at: www.insurance.wa.gov.
(((2) The commissioner deems that a nonresident person holding a surplus line broker's license, or the equivalent, in the applicant's home state is qualified, competent and trustworthy and, therefore, meets the minimum standards of this state for holding a surplus line broker's license. For that reason, the commissioner will waive the Washington surplus line broker's examination for a person who has and maintains a current resident surplus line broker's license, or the equivalent, in the applicant's home state.))
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