title: RCW 48.23A.040

text:
(1) A basic illustration shall conform with the following requirements:
(a) The illustration shall be labeled with the date on which it was prepared.
(b) Each page, including any explanatory notes or pages, shall be numbered and show its relationship to the total number of pages in the illustration (for example, the fourth page of a seven-page illustration shall be labeled "page 4 of 7 pages").
(c) The assumed dates of payment receipt and benefit payout within a policy year shall be clearly identified.
(d) If the age of the proposed insured is shown as a component of the tabular detail, it shall be issue age plus the numbers of years the policy is assumed to have been in force.
(e) The assumed payments on which the illustrated benefits and values are based shall be identified as premium outlay or contract premium, as applicable. For policies that do not require a specific contract premium, the illustrated payments shall be identified as premium outlay.
(f) Guaranteed death benefits and values available upon surrender, if any, for the illustrated premium outlay or contract premium shall be shown and clearly labeled guaranteed.
(g) If the illustration shows any nonguaranteed elements, they cannot be based on a scale more favorable to the policy owner than the insurer's illustrated scale at any duration. These elements shall be clearly labeled nonguaranteed.
(h) The guaranteed elements, if any, shall be shown before corresponding nonguaranteed elements and shall be specifically referred to on any page of an illustration that shows or describes only the nonguaranteed elements (for example, "see page one for guaranteed elements").
(i) The account or accumulation value of a policy, if shown, shall be identified by the name this value is given in the policy being illustrated and shown in close proximity to the corresponding value available upon surrender.
(j) The value available upon surrender shall be identified by the name this value is given in the policy being illustrated and shall be the amount available to the policy owner in a lump sum after deduction of surrender charges, policy loans, and policy loan interest, as applicable.
(k) Illustrations may show policy benefits and values in graphic or chart form in addition to the tabular form.
(l) Any illustration of nonguaranteed elements shall be accompanied by a statement indicating that:
(i) The benefits and values are not guaranteed;
(ii) The assumptions on which they are based are subject to change by the insurer; and
(iii) Actual results may be more or less favorable.
(m) If the illustration shows that the premium payer may have the option to allow policy charges to be paid using nonguaranteed values, the illustration must clearly disclose that a charge continues to be required and that, depending on actual results, the premium payer may need to continue or resume premium outlays. Similar disclosure shall be made for premium outlay of lesser amounts or shorter durations than the contract premium. If a contract premium is due, the premium outlay display shall not be left blank or show zero unless accompanied by an asterisk or similar mark to draw attention to the fact that the policy is not paid up.
(n) If the applicant plans to use dividends or policy values, guaranteed or nonguaranteed, to pay all or a portion of the contract premium or policy charges, or for any other purpose, the illustration may reflect those plans and the impact on future policy benefits and values.
(2) A basic illustration shall include the following:
(a) A brief description of the policy being illustrated, including a statement that it is a life insurance policy;
(b) A brief description of the premium outlay or contract premium, as applicable, for the policy. For a policy that does not require payment of a specific contract premium, the illustration shall show the premium outlay that must be paid to guarantee coverage for the term of the contract, subject to maximum premiums allowable to qualify as a life insurance policy under the applicable provisions of the internal revenue code;
(c) A brief description of any policy features, riders, or options, guaranteed or nonguaranteed, shown in the basic illustration and the impact they may have on the benefits and values of the policy;
(d) Identification and a brief definition of column headings and key terms used in the illustration; and
(e) A statement containing in substance the following: "This illustration assumes that the currently illustrated, nonguaranteed elements will continue unchanged for all years shown. This is not likely to occur, and actual results may be more or less favorable than those shown."
(3)(a) Following the narrative summary, a basic illustration shall include a numeric summary of the death benefits and values and the premium outlay and contract premium, as applicable. For a policy that provides for a contract premium, the guaranteed death benefits and values shall be based on the contract premium. This summary shall be shown for at least policy years five, ten, and twenty and at age seventy, if applicable, on the three bases shown below. For multiple life policies the summary shall show policy years five, ten, twenty, and thirty.
(i) Policy guarantees;
(ii) Insurer's illustrated scale;
(iii) Insurer's illustrated scale used but with the nonguaranteed elements reduced as follows:
(A) Dividends at fifty percent of the dividends contained in the illustrated scale used;
(B) Nonguaranteed credited interest at rates that are the average of the guaranteed rates and the rates contained in the illustrated scale used; and
(C) All nonguaranteed charges, including but not limited to, term insurance charges and mortality and expense charges, at rates that are the average of the guaranteed rates and the rates contained in the illustrated scale used.
(b) In addition, if coverage would cease prior to policy maturity or age one hundred, the year in which coverage ceases shall be identified for each of the three bases.
(4) Statements substantially similar to the following shall be included on the same page as the numeric summary and signed by the applicant, or the policy owner in the case of an illustration provided at time of delivery, as required in this chapter.
(a) A statement to be signed and dated by the applicant or policy owner reading as follows: "I have received a copy of this illustration and understand that any nonguaranteed elements illustrated are subject to change and could be either higher or lower. The insurance producer has told me they are not guaranteed."
(b) A statement to be signed and dated by the insurance producer or other authorized representative of the insurer reading as follows: "I certify that this illustration has been presented to the applicant and that I have explained that any nonguaranteed elements illustrated are subject to change. I have made no statements that are inconsistent with the illustration."
(5)(a) A basic illustration shall include the following for at least each policy year from one to ten and for every fifth policy year thereafter ending at age one hundred, policy maturity, or final expiration; and except for term insurance beyond the twentieth year, for any year in which the premium outlay and contract premium, if applicable, is to change:
(i) The premium outlay and mode the applicant plans to pay and the contract premium, as applicable;
(ii) The corresponding guaranteed death benefit, as provided in the policy; and
(iii) The corresponding guaranteed value available upon surrender, as provided in the policy.
(b) For a policy that provides for a contract premium, the guaranteed death benefit and value available upon surrender shall correspond to the contract premium.
(c) Nonguaranteed elements may be shown if described in the contract. In the case of an illustration for a policy on which the insurer intends to credit terminal dividends, they may be shown if the insurer's current practice is to pay terminal dividends. If any nonguaranteed elements are shown, they must be shown at the same durations as the corresponding guaranteed elements, if any. If no guaranteed benefit or value is available at any duration for which a nonguaranteed benefit or value is shown, a zero shall be displayed in the guaranteed column.
[ 2008 c 217 s 28; 1997 c 313 s 6.]
Notes:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.

catchline: Basic illustration—Conforming requirements—Brief descriptions—Numeric summaries—Required statements.


doc_type: statute

jurisdiction: wa

title: RCW 48.23A.050

text:
(1) A supplemental illustration may be provided so long as:
(a) It is appended to, accompanied by, or preceded by a basic illustration that complies with this chapter;
(b) The nonguaranteed elements shown are not more favorable to the policy owner than the corresponding elements based on the scale used in the basic illustration;
(c) It contains the same statement required of a basic illustration that nonguaranteed elements are not guaranteed; and
(d) For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration. For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration shall be equal to the premium outlay shown in the basic illustration.
(2) The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.
[ 1997 c 313 s 7.]

license: public-domain-government-work

rule_set: Revised Code of Washington

catchline: Supplemental illustration—Conditions for use—Reference to basic illustration.

code: rcw

unit: section

court: Washington State Legislature


title: RCW 48.23A.060

text:
(1)(a) If a basic illustration is used by an insurance producer or other authorized representative of the insurer in the sale of a life insurance policy and the policy is applied for as illustrated, a copy of that illustration, signed in accordance with this chapter, shall be submitted to the insurer at the time of policy application. A copy shall also be provided to the applicant.
(b) If the policy is issued other than as applied for, a revised basic illustration conforming to the policy as issued shall be sent with the policy. The revised illustration shall conform to the requirements of this chapter, be labeled "revised illustration," and be signed and dated by the applicant or policy owner and producer or other authorized representative of the insurer no later than the time the policy is delivered. A copy shall be provided to the insurer and the policy owner.
(2)(a) If no illustration is used by an insurance producer or other authorized representative in the sale of a life insurance policy, or if the policy is applied for other than as illustrated, the producer or representative shall certify to that effect in writing on a form provided by the insurer. On the same form the applicant shall acknowledge that no illustration conforming to the policy applied for was provided and shall further acknowledge an understanding that an illustration conforming to the policy as issued will be provided no later than at the time of policy delivery. This form shall be submitted to the insurer at the time of policy application.
(b) If the policy is issued, a basic illustration conforming to the policy as issued shall be sent with the policy and signed no later than the time the policy is delivered. A copy shall be provided to the insurer and the policy owner.
(3)(a) Where a computer screen illustration is used that cannot be printed out during use, the producer shall certify in writing on a form provided by the insurer that a computer screen illustration was displayed. Such form shall require the producer to provide, as applicable, the generic name of the policy and any riders illustrated, the guaranteed and nonguaranteed interest rates illustrated, the number of policy years illustrated, the initial death benefit, the premium amount illustrated, and the assumed number of years of premiums. On the same form the applicant shall acknowledge that an illustration matching that which was displayed on the computer screen will be provided no later than the time of policy delivery. A copy of this signed form shall be provided to the applicant at the time it is signed.
(b) If the policy is issued, a basic illustration conforming to the policy as issued shall be sent with the policy and signed by the policy owner no later than the time the policy is delivered. A copy shall be provided to the policy owner and retained by the insurer.
(c) If a computer screen illustration is used that can be printed during use, a copy of that illustration, signed in accordance with this chapter, shall be submitted to the insurer at the time of policy application. A copy shall also be provided to the applicant.
(d) If the basic illustration or revised illustration is sent to the applicant or policy owner by mail from the insurer, it shall include instructions for the applicant or policy owner to sign the duplicate copy of the numeric summary page of the illustration for the policy issued and return the signed copy to the insurer. The insurer's obligation under this subsection is satisfied if it can demonstrate that it has made a diligent effort to secure a signed copy of the numeric summary page. The requirement to make a diligent effort shall be deemed satisfied if the insurer includes in the mailing a self-addressed, postage prepaid envelope with instructions for the return of the signed numeric summary page.
(4) A copy of the basic illustration and a revised basic illustration, if any, signed as applicable, along with any certification that either no illustration was used or that the policy was applied for other than as illustrated, shall be retained by the insurer until three years after the policy is no longer in force. A copy need not be retained if no policy is issued.
[ 1997 c 313 s 8.]

catchline: Illustration used or not used during sale—Signed copy of illustration or acknowledgment of no use—Computer screen—Retained copies.


title: RCW 48.23A.070

text:
(1) In the case of a policy designated as one for which illustrations will be used, the insurer shall provide each policy owner with an annual report on the status of the policy that shall contain at least the following information:
(a) For universal life policies, the report shall include the following:
(i) The beginning and end date of the current report period;
(ii) The policy value at the end of the previous report period and at the end of the current report period;
(iii) The total amounts that have been credited or debited to the policy value during the current report period, identifying each type, such as interest, mortality, expense, and riders;
(iv) The current death benefit at the end of the current report period on each life covered by the policy;
(v) The net cash surrender value of the policy as of the end of the current report period;
(vi) The amount of outstanding loans, if any, as of the end of the current report period; and
(vii) For fixed premium policies: If, assuming guaranteed interest, mortality, and expense loads and continued scheduled premium payments, the policy's net cash surrender value is such that it would not maintain insurance in force until the end of the next reporting period, a notice to this effect shall be included in the report; or
(viii) For flexible premium policies: If, assuming guaranteed interest, mortality, and expense loads, the policy's net cash surrender value will not maintain insurance in force until the end of the next reporting period unless further premium payments are made, a notice to this effect shall be included in the report.
(b) For all other policies, where applicable:
(i) Current death benefit;
(ii) Annual contract premium;
(iii) Current cash surrender value;
(iv) Current dividend;
(v) Application of current dividend; and
(vi) Amount of outstanding loan.
(c) Insurers writing life insurance policies that do not build nonforfeiture values shall only be required to provide an annual report with respect to these policies for those years when a change has been made to nonguaranteed policy elements by the insurer.
(2) If the annual report does not include an in-force illustration, it shall contain the following notice displayed prominently: "IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling (insurer's phone number), writing to (insurer's name) at (insurer's address) or contacting your insurance producer. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department." The insurer may vary the sequential order of the methods for obtaining an in-force illustration.
(3) Upon the request of the policy owner, the insurer shall furnish an in-force illustration of current and future benefits and values based on the insurer's present illustrated scale. This illustration shall comply with the requirements of RCW 48.23A.030 (1) and (2) and 48.23A.040 (1) and (5). No signature or other acknowledgment of receipt of this illustration shall be required.
(4) If an adverse change in nonguaranteed elements that could affect the policy has been made by the insurer since the last annual report, the annual report shall contain a notice of that fact and the nature of the change prominently displayed.
[ 2008 c 217 s 29; 1997 c 313 s 9.]
Notes:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.

catchline: Policy designated for use of illustrations—Annual report—Required information—In-force illustrations—Notice of adverse changes.


title: RCW 48.23A.080

text:
(1) The board of directors of each insurer shall appoint one or more illustration actuaries.
(2) The illustration actuary shall certify that the disciplined current scale used in illustrations is in conformity with the actuarial standard of practice for compliance with the national association of insurance commissioners model regulation on life insurance illustrations adopted by the actuarial standards board, and that the illustrated scales used in insurer-authorized illustrations meet the requirements of this chapter.
(3) The illustration actuary shall:
(a) Be a member in good standing of the American academy of actuaries;
(b) Be familiar with the standard of practice regarding life insurance policy illustrations;
(c) Not have been found by the commissioner, following appropriate notice and hearing to have:
(i) Violated any provision of, or any obligation imposed by, the insurance law or other law in the course of his or her dealings as an illustration actuary;
(ii) Been found guilty of fraudulent or dishonest practices;
(iii) Demonstrated his or her incompetence, lack of cooperation, or untrustworthiness to act as an illustration actuary; or
(iv) Resigned or been removed as an illustration actuary within the past five years as a result of acts or omissions indicated in any adverse report on examination or as a result of a failure to adhere to generally acceptable actuarial standards;
(d) Not fail to notify the commissioner of any action taken by a commissioner of another state similar to that under (c) of this subsection;
(e) Disclose in the annual certification whether, since the last certification, a currently payable scale applicable for business issued within the previous five years and within the scope of the certification has been reduced for reasons other than changes in the experience factors underlying the disciplined current scale. If nonguaranteed elements illustrated for new policies are not consistent with those illustrated for similar in-force policies, this must be disclosed in the annual certification. If nonguaranteed elements illustrated for both new and in-force policies are not consistent with the nonguaranteed elements actually being paid, charged, or credited to the same or similar forms, this must be disclosed in the annual certification; and
(f) Disclose in the annual certification the method used to allocate overhead expenses for all illustrations:
(i) Fully allocated expenses;
(ii) Marginal expenses; or
(iii) A generally recognized expense table based on fully allocated expenses representing a significant portion of insurance companies and approved by the national association of insurance commissioners.
(4)(a) The illustration actuary shall file a certification with the board of directors and with the commissioner:
(i) Annually for all policy forms for which illustrations are used; and
(ii) Before a new policy form is illustrated.
(b) If an error in a previous certification is discovered, the illustration actuary shall notify the board of directors of the insurer and the commissioner promptly.
(5) If an illustration actuary is unable to certify the scale for any policy form illustration the insurer intends to use, the actuary shall notify the board of directors of the insurer and the commissioner promptly of his or her inability to certify.
(6) A responsible officer of the insurer, other than the illustration actuary, shall certify annually:
(a) That the illustration formats meet the requirements of this chapter and that the scales used in insurer-authorized illustrations are those scales certified by the illustration actuary; and
(b) That the company has provided its insurance producers with information about the expense allocation method used by the company in its illustrations and disclosed as required in subsection (3)(f) of this section.
(7) The annual certifications shall be provided to the commissioner each year by a date determined by the insurer.
(8) If an insurer changes the illustration actuary responsible for all or a portion of the company's policy forms, the insurer shall notify the commissioner of that fact promptly and disclose the reason for the change.
[ 2008 c 217 s 30; 1997 c 313 s 10.]
Notes:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.

catchline: Illustration actuaries—Conditions for appointment—Duties—Certifications—Disclosures to commissioner.


title: RCW 48.23A.090

text:
In addition to any other penalties provided by law, an insurer or producer that violates a requirement of this chapter is guilty of a violation of RCW 48.30.010(1).
[ 1997 c 313 s 11.]

catchline: Violations—RCW 48.30.010(1).


title: RCW 48.23A.901

text:
This act takes effect January 1, 1998, and applies to policies sold on or after January 1, 1998.
[ 1997 c 313 s 13.]

catchline: Effective date—Application—1997 c 313.


title: RCW 48.24.010

text:
(1) No contract of life insurance shall hereafter be delivered or issued for delivery in this state insuring the lives of more than one individual unless to one of the groups as provided for in this chapter, and unless in compliance with the other provisions of this chapter.
(2) Subsection (1) of this section shall not apply to contracts of life insurance
(a) insuring only individuals related by marriage, by blood, or by legal adoption; or
(b) insuring only individuals having a common interest through ownership of a business enterprise, or of a substantial legal interest or equity therein, and who are actively engaged in the management thereof; or
(c) insuring the lives of employees and retirees under contracts executed with the state health care authority under the provisions of chapter 41.05 RCW.
[ 1988 c 107 s 22; 1973 1st ex.s. c 147 s 11; 1947 c 79 s .24.01; Rem. Supp. 1947 s 45.24.01.]
Notes:
Implementation—Effective dates—1988 c 107: See RCW 41.05.901.
Effective date—Effect of veto—Savings—Severability—1973 1st ex.s. c 147: See notes following RCW 41.05.050.

catchline: Group requirements.


title: RCW 48.24.020

text:
The lives of a group of individuals may be insured under a policy issued to an employer, or to the trustees of a fund established by an employer, which employer or trustee is deemed the policyholder, insuring employees of the employer for the benefit of persons other than the employer, subject to the following requirements:
(1) The employees eligible for insurance under the policy shall be all of the employees of the employer, or all of any class or classes thereof determined by conditions pertaining to their employment. The policy may provide that the term "employees" shall include the employees of one or more subsidiary corporations, and the employees, individual proprietors, and partners of one or more affiliated corporations, proprietors or partnerships if the business of the employer and of such affiliated corporations, proprietors or partnerships is under common control through stock ownership, contract or otherwise. The policy may provide that the term "employees" shall include the individual proprietor or partners if the employer is an individual proprietor or a partnership. The policy may provide that the term "employees" shall include retired employees.
(2) The premium for the policy shall be paid by the policyholder, either wholly from the employer's funds or funds contributed by him or her, or partly from such funds and partly from funds contributed by the insured employees, or from funds contributed entirely by the insured employees. A policy on which no part of the premium is to be derived from funds contributed by the insured employees must insure all eligible employees, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.
(3) The policy must cover at least two employees at date of issue.
(4) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the employees or by the employer or trustees.
[ 2005 c 222 s 1; 1955 c 303 s 29; 1947 c 79 s .24.02; Rem. Supp. 1947 s 45.24.02.]

catchline: Employee groups.


title: RCW 48.24.025

text:
Any employee whose compensation includes group life insurance, the premiums for which are paid in full or in part by an employer including the state of Washington, its political subdivisions, or municipal corporations, or paid by payroll deduction, may pay the premiums as they become due directly to the policyholder whenever the employee's compensation is suspended or terminated directly or indirectly as the result of a strike, lockout, or other labor dispute, for a period not exceeding six months and at the rate and coverages as the policy provides. During that period of time the policy may not be altered or changed. Nothing in this section shall be deemed to impair the right of the insurer to make normal decreases or increases of the premium rate upon expiration and renewal of the policy, in accordance with the provisions of the policy. Thereafter, if such insurance coverage is no longer available, then the employee shall be given the opportunity to purchase an individual policy at a rate consistent with rates filed by the insurer with the commissioner. When the employee's compensation is so suspended or terminated, the employee shall be notified immediately by the policyholder in writing, by mail addressed to the address last on record with the policyholder, that the employee may pay the premiums to the policyholder as they become due as provided in this section.
Payment of the premiums must be made when due or the insurance coverage may be terminated by the insurer.
The provisions of any insurance policy contrary to provisions of this section are void and unenforceable after May 29, 1975.
[ 1975 1st ex.s. c 117 s 2.]
Notes:
Severability—1975 1st ex.s. c 117: See note following RCW 48.21.075.

catchline: Payment of premium by employee when compensation suspended due to labor dispute.


title: RCW 48.24.027

text:
(1) Group life insurance offered to a resident of this state under a group life insurance policy may be issued to a group other than one described in RCW 48.24.020, 48.24.035, 48.24.040, 48.24.045, 48.24.050, 48.24.060, 48.24.070, 48.24.080, 48.24.090, or 48.24.095 subject to the requirements in this subsection. No such group life insurance policy may be delivered in this state unless the commissioner finds that:
(a) The issuance of the group policy is not contrary to the best interest of the public;
(b) The issuance of the group policy would result in economies of acquisition or administration; and
(c) The benefits are reasonable in relation to the premiums charged.
(2) No such group life insurance coverage may be offered under this section in this state by an insurer under a policy issued in another state unless the commissioner or the insurance commissioner of another state having requirements substantially similar to those contained in subsection (1)(a) through (c) of this section has made a determination that the requirements have been met.
(3) The premium for the policy shall be paid either from the policyholder's funds or from funds contributed by the covered persons, or from both.
[ 2010 c 13 s 1.]

catchline: Offering group life insurance to state residents—Commissioner's findings.


title: RCW 48.24.030

text:
(1) Insurance under any group life insurance policy issued under RCW 48.24.020, 48.24.050, 48.24.060, 48.24.070, 48.24.090, or 48.24.027 may be extended to insure the spouse and dependent children, or any class or classes thereof, of each insured employee or member who so elects, in amounts in accordance with a plan that precludes individual selection by the employees or members or by the employer or labor union or trustee, and which insurance on the life of any one family member including a spouse shall not be in excess of the amount on the life of the insured employee or member.
Premiums for the insurance on the family members shall be paid by the policyholder, either from the employer's funds, funds contributed to him or her, employee's funds, trustee's funds, or labor union funds.
(2) A spouse insured under this section has the same conversion right as to the insurance on his or her life as is vested in the employee or member under this chapter.
[ 2010 c 13 s 2; 2006 c 25 s 14. Prior: 2005 c 223 s 13; 2005 c 222 s 2; 1993 c 132 s 1; 1975 1st ex.s. c 266 s 11; 1965 ex.s. c 70 s 23; 1963 c 192 s 1; 1953 c 197 s 10; 1947 c 79 s .24.03; Rem. Supp. 1947 s 45.24.03.]
Notes:
Severability—1975 1st ex.s. c 266: See note following RCW 48.01.010.

catchline: Dependents of employees or members of certain groups.


title: RCW 48.24.035

text:
The lives of a group of individuals may be insured under a policy issued to a credit union, which shall be deemed the policyholder, to insure eligible members of such credit union for the benefit of persons other than the credit union or its officials, subject to the following requirements:
(1) The members eligible for insurance under the policy shall be all of the members of a credit union, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer, or all of any class or classes thereof determined by conditions pertaining to their age or membership in the credit union or both.
(2) The premium for the policy shall be paid by the policyholder, either wholly from the credit union's funds, or partly from such funds and partly from funds contributed by the insured members specifically for their insurance. No policy may be issued for which the entire premium is to be derived from funds contributed by the insured members specifically for their insurance.
(3) The policy must cover at least twenty-five members at the date of issue.
(4) The amount of insurance under the policy shall not exceed the amount of the total shares and deposits of the member.
(5) As used herein, "credit union" means a credit union organized and operating under the federal credit union act of 1934 or chapter 31.12 RCW.
[ 1982 c 181 s 14; 1961 c 194 s 8.]
Notes:
Severability—1982 c 181: See note following RCW 48.03.010.

catchline: Credit union groups.


title: RCW 48.24.040

text:
The lives of a group of individuals may be insured under a policy issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditors, subject to the provisions of the insurance code relating to credit life insurance and credit accident and health insurance and to the following requirements:
(1) The debtors eligible for insurance under the policy shall be all of the debtors of the creditor whose indebtedness is repayable in installments, or all of any class or classes thereof determined by conditions pertaining to the indebtedness or to the purchase giving rise to the indebtedness, except that nothing in this section shall preclude an insurer from excluding from the classes eligible for insurance classes of debtors determined by age. The policy may provide that the term "debtors" shall include the debtors of one or more subsidiary corporations, and the debtors of one or more affiliated corporations, proprietors or partnerships if the business of the policyholder and of such affiliated corporations, proprietors or partnerships is under common control through stock ownership, contract, or otherwise.
(2) The premium for the policy shall be paid by the policyholder, either from the creditor's funds, or from charges collected from the insured debtors, or from both. A policy on which part or all of the premium is to be derived from the collection from the insured debtors of identifiable charges not required of uninsured debtors shall not include, in the class or classes of debtors eligible for insurance, debtors under obligations outstanding at its date of issue without evidence of individual insurability unless at least seventy-five percent of the then eligible debtors elect to pay the required charges. A policy on which no part of the premium is to be derived from the collection of such identifiable charges must insure all eligible debtors, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.
(3) The policy may be issued only if the group of eligible debtors is then receiving new entrants at the rate of at least one hundred persons yearly, or may reasonably be expected to receive at least one hundred new entrants during the first policy year, and only if the policy reserves to the insurer the right to require evidence of individual insurability if less than seventy-five percent of the new entrants become insured.
(4) Payment by the debtor insured under any such group life insurance contract of the premium charged the creditor by the insurer for such insurance pertaining to the debtor, shall not be deemed to constitute a charge upon a loan in violation of any usury law.
[ 1967 c 150 s 28; 1961 c 194 s 9; 1955 c 303 s 18; 1947 c 79 s .24.04; Rem. Supp. 1947 s 45.24.04.]

catchline: Debtor groups.


title: RCW 48.24.045

text:
The lives of a group of individuals may be insured under a policy issued to an association which has been in active existence for at least one year, which has a constitution and bylaws, and which has been organized and is maintained in good faith for purposes other than that of obtaining insurance. Under this group life insurance policy, the association shall be deemed the policyholder. The policy may insure association employees, members, or their employees. Beneficiaries under the policy shall be persons other than the association or its officers or trustees. The term "employees" as used in this section may include retired employees.
[ 1979 ex.s. c 44 s 1.]

catchline: Certain associations as groups.


title: RCW 48.24.050

text:
The lives of a group of individuals may be insured under a policy issued to a labor union, which shall be deemed the policyholder, to insure members of such union for the benefit of persons other than the union or any of its officials, representatives or agents, subject to the following requirements:
(1) The members eligible for insurance under the policy shall be all of the members of the union, or all of any class or classes thereof determined by conditions pertaining to their employment, or to membership in the union, or both.
(2) The premium for the policy shall be paid by the policyholder, either wholly from the union's funds, or partly from such funds and partly from funds contributed by the insured members specifically for their insurance. No policy may be issued of which the entire premium is to be derived from funds contributed by the insured members specifically for their insurance. A policy on which the premium is to be derived in part from funds contributed by the insured members specifically for their insurance may be placed in force only if at least seventy-five percent of the then eligible members, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer, elect to make the required contributions. A policy on which no part of the premium is to be derived from funds contributed by the insured members specifically for their insurance must insure all eligible members, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.
(3) The policy must cover at least twenty-five members at date of issue.
(4) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the members or by the union.
[ 1955 c 303 s 19; 1947 c 79 s .24.05; Rem. Supp. 1947 s 45.24.05.]

catchline: Labor union groups.


title: RCW 48.24.060

text:
The lives of a group of public employees may be insured under a policy issued to the departmental head or to a trustee, or issued to an association of public employees formed for purposes other than obtaining insurance and having, when the policy is placed in force, a membership in the classes eligible for insurance of not less than seventy-five percent of the number of employees eligible for membership in such classes, which department head or trustee or association shall be deemed the policyholder, to insure such employees for the benefit of persons other than the policyholder or any of its officials, subject to the following requirements:
(1) The persons eligible for insurance under the policy shall be all of the employees of the department or members of the association, or all of any class or classes thereof determined by conditions pertaining to their employment, or to membership in the association, or both.
(2) The premium for the policy shall be paid by the policyholder, in whole or in part either from salary deductions authorized by, or charges collected from, the insured employees or members specifically for the insurance, or from the association's own funds, or from both. Any such deductions from salary may be paid by the employer to the association or directly to the insurer. No policy may be placed in force unless and until at least seventy-five percent of the then eligible employees or association members, excluding any as to whom evidence of individual insurability is not satisfactory to the insurer, have elected to be covered and have authorized their employer to make any required deductions from salary.
(3) The rate of charges to the insured employees or members specifically for the insurance, and the dues of the association if they include the cost of insurance, shall be determined according to each attained age or in not less than four reasonably spaced attained age groups. In no event shall the rate of such dues or charges be level for all members regardless of attained age.
(4) The policy must cover at least twenty-five persons at date of issue.
(5) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the employees or members or by the association.
As used herein, "public employees" means employees of the United States government, or of any state, or of any political subdivision or instrumentality of any of them.
[ 1989 c 10 s 9. Prior: 1973 1st ex.s. c 163 s 8; 1973 1st ex.s. c 152 s 5; 1963 c 195 s 21; 1955 c 303 s 20; 1953 c 197 s 11; 1947 c 79 s .24.06; Rem. Supp. 1947 s 45.24.06.]
Notes:
Severability—1973 1st ex.s. c 152: See note following RCW 48.05.140.

catchline: Public employee associations.


title: RCW 48.24.070

text:
The lives of a group of individuals may be insured under a policy issued to the trustees of a fund established by two or more employers or by two or more employer members of an employers' association, or by one or more labor unions, or by one or more employers and one or more labor unions, or by one or more employers and one or more labor unions whose members are in the same or related occupations or trades, which trustees shall be deemed the policyholder, to insure employees or members for the benefit of persons other than the employers or the unions, subject to the following requirements:
(1) If the policy is issued to two or more employer members of an employers' association, such policy may be issued only if (a) the association has been in existence for at least five years and was formed for purposes other than obtaining insurance and (b) the participating employers, meaning such employer members whose employees are to be insured, constitute at date of issue at least fifty percent of the total employers eligible to participate, unless the number of persons covered at date of issue exceeds six hundred, in which event such participating employers must constitute at least twenty-five percent of such total employers in either case omitting from consideration any employer whose employees are already covered for group life insurance.
(2) The persons eligible for insurance shall be all of the employees of the employers or all of the members of the unions, or all of any class or classes thereof determined by conditions pertaining to their employment, or to membership in the unions, or to both. The policy may provide that the term "employees" shall include the individual proprietor or partners if an employer is an individual proprietor or a partnership. The policy may provide that the term "employees" shall include the trustees or their employees, or both, if their duties are connected with such trusteeship. The policy may provide that the term "employees" shall include retired employees.
(3) The premium for the policy shall be paid by the trustees wholly from funds contributed by the employer or employers of the insured persons, or by the union or unions, or partly or wholly from funds contributed by the insured persons, or any combination thereof. A policy on which all or part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance may be placed in force if the eligible persons elect to make the required contributions. A policy on which no part of the premium is to be derived from funds contributed by the insured persons specifically for their insurance must insure all eligible persons, or all except any as to whom evidence of individual insurability is not satisfactory to the insurer.
(4) The policy must cover at least twenty persons at date of issue.
(5) The amounts of insurance under the policy must be based upon some plan precluding individual selection either by the insured persons or by the policyholder, employers, or unions.
[ 2007 c 80 s 9; 1973 1st ex.s. c 163 s 9; 1963 c 86 s 1; 1959 c 225 s 9; 1955 c 303 s 21; 1953 c 197 s 12; 1947 c 79 s .24.07; Rem. Supp. 1947 s 45.24.07.]

catchline: Trustee groups.


title: RCW 48.24.080

text:
The lives of a group of individuals may be insured under a policy issued to a principal, or if such principal is a life insurer, by or to such principal, covering when issued not less than twenty-five insurance producers of such principal, subject to the following requirements:
(1) The insurance producers eligible for insurance under the policy shall be those who are under contract to render personal services for such principal for a commission or other fixed or ascertainable compensation.
(2) The policy must insure either all of the insurance producers or all of any class or classes thereof, determined by conditions pertaining to the services to be rendered by such insurance producers, except that if a policy is intended to insure several such classes it may be issued to insure any such class of which seventy-five percent are covered and extended to other classes as seventy-five percent thereof express the desire to be covered.
(3) The premium on the policy shall be paid by the principal or by the principal and the insurance producers jointly. When the premium is paid by the principal and insurance producers jointly and the benefits of the policy are offered to all eligible insurance producers, the policy, when issued, must insure not less than seventy-five percent of such insurance producers.
(4) The amounts of insurance shall be based upon some plan which will preclude individual selection.
(5) The insurance shall be for the benefit of persons other than the principal.
(6) Such policy shall terminate if, subsequent to issue, the number of insurance producers insured falls below twenty-five lives or seventy-five percent of the number eligible and the contribution of the insurance producers, if the premiums are on a renewable term insurance basis, exceed one dollar per month per one thousand dollars of insurance coverage plus any additional premium per one thousand dollars of insurance coverage charged to cover one or more hazardous occupations.
[ 2008 c 217 s 32; 1949 c 190 s 33; Rem. Supp. 1949 s 45.24.08.]
Notes:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.

catchline: Insurance producer groups.


title: RCW 48.24.090

text:
The lives of a group of individuals may be insured under a policy issued to the commanding officer, which commanding officer shall be deemed the policyholder, to insure not less than twenty-five of the members of the Washington state patrol. Such policy shall be for the benefit of beneficiaries as designated by the individuals so insured, and the premium thereon may be paid by such members. Not less than seventy-five percent of all eligible members of such Washington state patrol, or of any unit thereof determined by conditions pertaining to their employment, may be so insured.
[1947 c 79 s .24.09; Rem. Supp. 1947 s 45.24.09.]

catchline: Washington state patrol.


title: RCW 48.24.095

text:
The lives of a group of individuals may be insured under a policy issued to a state or federally regulated financial institution, which financial institution shall be deemed the policyholder. The purpose of the policy shall be to insure the depositors or depositor members of the financial institution for the benefit of persons other than the financial institution or its officers. The issuance of the policy shall be subject to the following requirements:
(1) The persons eligible for insurance under the policy shall be the depositors or deposit members of such financial institution, except any as to whom evidence of individual insurability is not satisfactory to the insurer, or any class or classes thereof determined by conditions of age.
(2) The policy must cover at least one hundred persons at the date of issue.
(3) The amount of insurance under the policy shall not exceed the amount of the deposit account of the insured person or five thousand dollars whichever is less.
(4) Financial institutions referred to herein must be authorized to do business in the state of Washington and have their depositors' or members' deposit accounts insured against loss to the amount of at least fifteen thousand dollars by a corporate agency of the federal government.
[ 1967 ex.s. c 95 s 15.]

catchline: Financial institutions.


title: RCW 48.24.100

text:
No policy of group life insurance shall be delivered or issued for delivery in this state unless it contains in substance the standard provisions as required by RCW 48.24.110 to 48.24.200, inclusive, or provisions which in the opinion of the commissioner are more favorable to the individuals insured, or at least as favorable to such individuals and more favorable to the policyholder; except that:
(1) Provisions set forth in RCW 48.24.160 to 48.24.200, inclusive, shall not apply to policies issued to a creditor to insure its debtors.
(2) If the group life insurance policy is on a plan of insurance other than the term plan, it shall contain a nonforfeiture provision or provisions which in the opinion of the commissioner is or are equitable to the insured persons and to the policyholder, but such nonforfeiture benefits are not required to be the same as those required for individual life insurance policies.
[1947 c 79 s .24.10; Rem. Supp. 1947 s 45.24.10.]

catchline: Standard provisions.


title: RCW 48.24.110

text:
There shall be a provision that the policyholder is entitled to a grace period of thirty-one days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder has given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.
[1947 c 79 s .24.11; Rem. Supp. 1947 s 45.24.11.]

catchline: Grace period.


title: RCW 48.24.120

text:
There shall be a provision that the validity of the policy shall not be contested, except for nonpayment of premiums, after it has been in force for two years from its date of issue; and that no statement made by an individual insured under the policy relating to his or her insurability shall be used in contesting the validity of the insurance with respect to which such statement was made after such insurance has been in force prior to the contest for a period of two years during such individual's lifetime nor unless it is contained in a written instrument signed by him [or her].
[ 2009 c 549 s 7108; 1947 c 79 s 24.12; Rem. Supp. 1947 s 45.24.12.]

catchline: Incontestability.


title: RCW 48.24.130

text:
There shall be a provision that a copy of the application, if any, of the policyholder shall be attached to the policy when issued and become a part of the contract; that all statements made by the policyholder or by the persons insured shall be deemed representations and not warranties, and that no statement made by any person insured shall be used in any contest unless a copy of the instrument containing the statement is or has been furnished to such person or to his or her beneficiary.
[ 2009 c 549 s 7109; 1947 c 79 s .24.13; Rem. Supp. 1947 s 45.24.13.]

catchline: The contract—Representations.


title: RCW 48.24.140

text:
There shall be a provision setting forth the conditions, if any, under which the insurer reserves the right to require a person eligible for insurance to furnish evidence of individual insurability satisfactory to the insurer as a condition to part or all of his or her coverage.
[ 2009 c 549 s 7110; 1947 c 79 s .24.14; Rem. Supp. 1947 s 45.24.14.]

catchline: Insurability.


title: RCW 48.24.150

text:
There shall be a provision specifying an equitable adjustment of premiums or of benefits or of both to be made in the event the age or sex of a person insured has been misstated, such provision to contain a clear statement of the method of adjustment to be used.
[ 1983 1st ex.s. c 32 s 22; 1947 c 79 s .24.15; Rem. Supp. 1947 s 45.24.15.]

catchline: Misstatement of age or sex.


title: RCW 48.24.160

text:
There shall be a provision that any sum becoming due by reason of the death of the individual insured shall be payable to the beneficiary designated by such individual, subject to the provisions of the policy in the event there is no designated beneficiary, as to all or any part of such sum, living at the death of the individual insured and subject to any right reserved by the insurer in the policy and set forth in the certificate to pay at its option a part of such sum not exceeding ten percent of such amount or one thousand dollars, whichever is greater, to any person appearing to the insurer to be equitably entitled thereto by reason of having incurred funeral or other expenses incident to the last illness or death of the individual insured.
[ 1981 c 333 s 1; 1979 ex.s. c 199 s 9; 1955 c 303 s 23; 1947 c 79 s .24.16; Rem. Supp. 1947 s 45.24.16.]

catchline: Beneficiary—Funeral, last illness expenses.


title: RCW 48.24.170

text:
There shall be a provision that the insurer will issue to the policyholder for delivery to each individual insured a certificate setting forth a statement as to the insurance protection to which he or she is entitled, to whom the insurance benefits are payable, described by name, relationship, or reference to the insurance records of the policyholder or insurer, and the rights and conditions set forth in RCW 48.24.180, 48.24.190 and 48.24.200, following.
[ 2009 c 549 s 7111; 1961 c 194 s 10; 1947 c 79 s .24.17; Rem. Supp. 1947 s 45.24.17.]

catchline: Certificates.


title: RCW 48.24.180

text:
There shall be a provision that if the insurance, or any portion of it, on an individual covered under the policy, other than a child insured pursuant to RCW 48.24.030, ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, such individual shall be entitled to have issued to him or her by the insurer, without evidence of insurability, an individual policy of life insurance without disability or other supplementary benefits, provided application for the individual policy shall be made, and the first premium paid to the insurer, within thirty-one days after such termination, and provided further that,
(1) the individual policy shall, at the option of such individual, be on any one of the forms, except term insurance, then customarily issued by the insurer at the age and for the amount applied for;
(2) the individual policy shall be in an amount not in any event in excess of the amount of life insurance which ceases because of such termination nor less than one thousand dollars unless a smaller amount of coverage was provided for such individual under the group policy: PROVIDED, That any amount of insurance which matures on the date of such termination or has matured prior thereto under the group policy as an endowment payable to the individual insured, whether in one sum or in installments or in the form of an annuity, shall not, for the purposes of this provision, be included in the amount which is considered to cease because of such termination; and
(3) the premium on the individual policy shall be at the insurer's then customary rate applicable to the form and amount of the individual policy, to the class of risk to which such individual then belongs, and to his or her age attained on the effective date of the individual policy.
[ 2009 c 549 s 7112; 1955 c 303 s 24; 1947 c 79 s .24.18; Rem. Supp. 1947 s 45.24.18.]

catchline: Conversion on termination of eligibility.


title: RCW 48.24.190

text:
There shall be a provision that if the group policy terminates or is amended so as to terminate the insurance of any class of insured individuals, every individual insured thereunder at the date of such termination, other than a child insured pursuant to RCW 48.24.030, whose insurance terminates and who has been so insured for at least five years prior to such termination date shall be entitled to have issued to him or her by the insurer an individual policy of life insurance, subject to the same conditions and limitations as are provided by RCW 48.24.180, except that the group policy may provide that the amount of such individual policy shall not exceed the smaller of (a) [(1)] the amount of the individual's life insurance protection ceasing because of the termination or amendment of the group policy, less the amount of any life insurance for which he or she is or becomes eligible under any group policy issued or reinstated by the same or another insurer within thirty-one days of such termination and (b) [(2)] two thousand dollars.
[ 2009 c 549 s 7113; 1953 c 197 s 13; 1947 c 79 s .24.19; Rem. Supp. 1947 s 45.24.19.]

catchline: Conversion on termination of policy.


title: RCW 48.24.200

text:
There shall be a provision that if a person insured under the group policy dies during the period within which he or she would have been entitled to have an individual policy issued to him or her in accordance with RCW 48.24.180 and 48.24.190, and before such an individual policy shall have become effective, the amount of life insurance which he or she would have been entitled to have issued to him or her under such individual policy shall be payable as a claim under the group policy, whether or not application for the individual policy or the payment of the first premium therefor has been made.
[ 2009 c 549 s 7114; 1947 c 79 s .24.20; Rem. Supp. 1947 s 45.24.20.]

catchline: Death pending conversion.


title: RCW 48.24.210

text:
(1) The insurer may in any group life insurance contract provide that it is not liable, or is liable only in a reduced amount, for losses resulting:
(a) From war or any act of war, declared or undeclared, or of service in the military, naval or air forces or in civilian forces auxiliary thereto, or from any cause while a member of any such military, naval or air forces, of any country at war, declared or undeclared.
(b) From aviation under conditions specified in the policy.
(2) The insurer may in any such contract provide that any amount of insurance in excess of one thousand dollars on an individual life may be reduced to one thousand dollars or to any greater amount upon attainment of any age not less than age sixty-five or upon the anniversary of the policy nearest attainment of such age.
[1947 c 79 s .24.21; Rem. Supp. 1947 s 45.24.21.]

catchline: Limitation of liability.


title: RCW 48.24.240

text:
Any group life insurance contract may provide for a readjustment of the premium rate based on experience under that contract, at the end of the first or of any subsequent year of insurance, and which readjustment may be made retroactive for such policy year only.
[1947 c 79 s .24.24; Rem. Supp. 1947 s 45.24.24.]

catchline: Readjustment of premium.


title: RCW 48.24.260

text:
Any policy dividends hereafter declared, or reduction in rate of premiums hereafter made or continued for the first or any subsequent year of insurance, under any policy of group life insurance heretofore or hereafter issued to any policyholder may be applied to reduce the policyholder's part of the cost of such insurance, except that if the aggregate dividends or refunds or credits under such group policy and any other group policy or contract issued to the policyholder exceed the aggregate contributions of the policyholder toward the cost of the coverages, such excess shall be applied by the policyholder for the sole benefit of insured individuals.
[1947 c 79 s .24.26; Rem. Supp. 1947 s 45.24.26.]

catchline: Application of dividends or rate reductions.


title: RCW 48.24.270

text:
(1) An insurer shall pay the proceeds of any benefits under a policy of group life insurance insuring the life of any person who was a resident of this state at the time of death. The proceeds must be paid not more than thirty days after the insurer has received satisfactory proof of death of the insured. If the proceeds are not paid within the thirty-day period, the insurer shall also pay interest on the proceeds from the date of death of the insured to the date when the proceeds are paid.
(2) The interest required under subsection (1) of this section accrues commencing on the date of death at the rate then paid by the insurer on other withdrawable policy proceeds left with the company or eight percent, whichever is greater.
(3) Benefits payable that have not been tendered to the beneficiary within ninety days of the receipt of proof of death accrue interest, commencing on the ninety-first day, at the rate under subsection (2) of this section plus three percent.
[ 2008 c 310 s 1.]

catchline: Payment of proceeds—Interest, when delayed.


title: RCW 48.24.280

text:
(1) A life insurer may include the following noninsurance benefits as part of a policy or certificate of group life insurance, with the prior approval of the commissioner:
(a) Will preparation services;
(b) Financial planning and estate planning services;
(c) Probate and estate settlement services;
(d) Grief counseling;
(e) Funeral planning and funeral services, but it must be disclosed that this noninsurance benefit does not constitute an insurance funded prearrangement contract, pursuant to RCW 18.39.255; and
(f) Such other services as the commissioner may identify by rule.
(2) The commissioner may adopt rules to regulate the disclosure of noninsurance benefits permitted under this section, including but not limited to guidelines regarding the coverage provided under the policy or certificate of insurance.
(3) Those providing the services listed in subsection (1) of this section must be appropriately licensed.
(4) This section does not require the commissioner to approve any particular proposed noninsurance benefit. The commissioner may disapprove any proposed noninsurance benefit that the commissioner determines may tend to promote or facilitate the violation of any other section of this title.
(5) This section does not expand, limit, or otherwise affect the authority and ethical obligations of those who are authorized by the state supreme court to practice law in this state. This section does not limit the prohibition against the unauthorized practice of law under chapter 2.48 RCW.
(6) This section does not affect the application of chapter 21.20 RCW.
[ 2017 c 32 s 1; 2016 c 143 s 1; 2009 c 76 s 2.]

catchline: Group life insurance—Noninsurance benefits.


title: RCW 48.24.900

text:
For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to marital relationships and married persons, and references to dissolution of marriage shall apply equally to state registered domestic partnerships that have been terminated, dissolved, or invalidated, to the extent that such interpretation does not conflict with federal law. Where necessary to implement chapter 521, Laws of 2009, gender-specific terms such as husband and wife used in any statute, rule, or other law shall be construed to be gender neutral, and applicable to individuals in state registered domestic partnerships.
[ 2009 c 521 s 120.]

catchline: Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.


title: RCW 48.25.010

text:
The provisions of this chapter apply only to industrial life insurance contracts.
[1947 c 79 s .25.01; Rem. Supp. 1947 s 45.25.01.]

catchline: Scope of chapter.


title: RCW 48.25.020

text:
"Industrial" life insurance is any life insurance provided by an individual insurance contract issued in face amount of less than one thousand dollars, under which premiums are payable monthly or oftener, and bearing the words "industrial policy" printed upon the policy as a part of the descriptive matter.
[1947 c 79 s .25.02; Rem. Supp. 1947 s 45.25.02.]

catchline: Industrial life insurance defined.


title: RCW 48.25.030

text:
No policy of industrial life insurance shall be delivered or be issued for delivery in this state after January 1, 1948, except in compliance with the provisions of this chapter and with other applicable provisions of this code.
[1947 c 79 s .25.03; Rem. Supp. 1947 s 45.25.03.]

catchline: Compliance enjoined.


title: RCW 48.25.040

text:
No such policy shall be so issued or delivered unless it contains in substance the provisions as required by this chapter, or provisions which in the opinion of the commissioner are more favorable to the policyholder.
[1947 c 79 s .25.04; Rem. Supp. 1947 s 45.25.04.]

catchline: Standard provisions.


title: RCW 48.25.050

text:
There shall be a provision that the insured is entitled to a grace period of four weeks within which the payment of any premium after the first may be made, except that in policies the premiums for which are payable monthly, the period of grace shall be one month but not less than thirty days; and that during the period of grace the policy shall continue in full force, but if during the grace period the policy becomes a claim, then any overdue and unpaid premiums may be deducted from any settlement under the policy.
[1947 c 79 s .25.05; Rem. Supp. 1947 s 45.25.05.]

catchline: Grace period.


title: RCW 48.25.060

text:
There shall be a provision that the policy shall constitute the entire contract between the parties, or, if a copy of the application is endorsed upon or attached to the policy when issued, a provision that the policy and the application therefor shall constitute the entire contract. If the application is so made a part of the contract, the policy shall also provide that all statements made by the applicant in such application shall, in the absence of fraud, be deemed to be representations and not warranties.
[1947 c 79 s .25.06; Rem. Supp. 1947 s 45.25.06.]

catchline: Entire contract.


title: RCW 48.25.070

text:
There shall be a provision that the policy shall be incontestable after it has been in force during the lifetime of the insured for a period of two years from its date of issue except for nonpayment of premiums, and except, at the option of the insurer, as to supplemental provisions providing benefits for total and permanent disability or specifically for accidental death.
[1947 c 79 s .25.07; Rem. Supp. 1947 s 45.25.07.]

catchline: Incontestability.


title: RCW 48.25.080

text:
There shall be a provision that if it is found that the age of the individual insured, or the age of any other individual considered in determining the premium, has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.
[1947 c 79 s .25.08; Rem. Supp. 1947 s 45.25.08.]

catchline: Misstatement of age.


title: RCW 48.25.090

text:
If a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the policy, and that dividends arising from such apportionment shall be credited annually beginning not later than the fifth contract year. This provision shall not prohibit the payment of additional dividends on default of payment of premiums or termination of the policy.
[1947 c 79 s .25.09; Rem. Supp. 1947 s 45.25.09.]

catchline: Dividends.


title: RCW 48.25.100

text:
There shall be a provision for nonforfeiture benefits as required by chapter 48.76 RCW.
[ 1983 c 3 s 152; 1947 c 79 s .25.10; Rem. Supp. 1947 s 45.25.10.]

catchline: Nonforfeiture benefits.


title: RCW 48.25.110

text:
There shall be a provision for a cash surrender value as required by chapter 48.76 RCW.
[ 1983 c 3 s 153; 1947 c 79 s .25.11; Rem. Supp. 1947 s 45.25.11.]

catchline: Cash surrender value.


title: RCW 48.25.120

text:
There shall be a provision that the policy may be reinstated at any time within two years from the due date of the premium in default unless the cash surrender value has been paid, or the extension period expired, upon the production of evidence of insurability satisfactory to the insurer and the payment of all overdue premiums and payment or reinstatement of any unpaid loans or advances made by the insurer against the policy with interest at a rate not exceeding six percent per annum and payable annually.
[1947 c 79 s .25.12; Rem. Supp. 1947 s 45.25.12.]

catchline: Reinstatement.


title: RCW 48.25.130

text:
There shall be a provision that when the policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death or after a specified period not exceeding two months after receipt of such proof.
[1947 c 79 s .25.13; Rem. Supp. 1947 s 45.25.13.]

catchline: Settlement.


title: RCW 48.25.140

text:
There shall be a provision that no insurance producer shall have the power or authority to waive, change, or alter any of the terms or conditions of any policy; except that, at the option of the insurer, the terms or conditions may be changed by an endorsement signed by a duly authorized officer of the insurer.
[ 2017 3rd sp.s. c 25 s 17; 2008 c 217 s 33; 1947 c 79 s .25.14; Rem. Supp. 1947 s 45.25.14.]
Notes:
Severability—Effective date—2008 c 217: See notes following RCW 48.03.020.

catchline: Authority to alter policy.


title: RCW 48.25.150

text:
(1) Each such policy shall have a space on the front or back page of the policy for the name of the beneficiary designated with a reservation of the right to designate or change the beneficiary after the issuance of the policy.
(2) The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of any proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured.
[1947 c 79 s .25.15; Rem. Supp. 1947 s 45.25.15.]

catchline: Beneficiary.


title: RCW 48.25.160

text:
Such a policy may also provide that if the beneficiary designated in the policy does not surrender the policy with due proof of death within the period stated in the policy, which shall not be less than thirty days after the death of the insured, or if the beneficiary is the estate of the insured or is a minor, or dies before the insured or is not legally competent to give a valid release, then the insurer may make payment thereunder to the executor or administrator of the insured, or to any of the insured's relatives by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled thereto by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention or burial of the insured. Such policy may also include a similar provision applicable to any other payment due under the policy.
[1947 c 79 s .25.16; Rem. Supp. 1947 s 45.25.16.]

catchline: Facility of payment clause.


title: RCW 48.25.170

text:
In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer while premiums on the policy are not in default beyond the grace period, of the intention to pay future premiums directly to the insurer at its home office or any office designated by the insurer for the purpose, the insurer will, at the end of each period of a year from the due date of the first premium so paid, for which period such premiums are so paid continuously without default beyond the grace period, refund a stated percentage of the premiums in an amount which fairly represents the savings in collection expense.
[1947 c 79 s .25.17; Rem. Supp. 1947 s 45.25.17.]

catchline: Payment of premiums direct.


title: RCW 48.25.180

text:
There shall be a provision in the case of weekly premium policies granting, upon proper written request and upon presentation of evidence of the insurability of the insured satisfactory to the insurer, the privilege of converting his or her weekly premium industrial insurance to any form of life insurance with less frequent premium payments regularly issued by the insurer, in accordance with terms and conditions agreed upon with the insurer. The privilege of making such conversion need be granted only if the insurer's weekly premium industrial policies on the life insured, in force as premium paying insurance and on which conversion is requested, grant benefits in event of death, exclusive of additional accidental death benefits and exclusive of any dividend additions, in an amount not less than the minimum amount of such insurance with less frequent premium payments issued by the insurer at the age of the insured on the plan of industrial or ordinary insurance desired.
[ 2009 c 549 s 7115; 1947 c 79 s .25.18; Rem. Supp. 1947 s 45.25.18.]

catchline: Conversion—Weekly premium policies.


title: RCW 48.25.190

text:
There shall be a provision, in the case of monthly premium industrial policies, granting, upon proper written request and upon presentation of evidence of the insurability of the insured satisfactory to the insurer, the privilege of converting his or her monthly premium industrial insurance to any form of ordinary life insurance regularly issued by the insurer, in accordance with terms and conditions agreed upon with the insurer. The privilege of making such conversions need be granted only if the insurer's monthly premium industrial policies on the life insured, in force as premium paying insurance and on which conversion is requested, grant benefits in event of death, exclusive of additional accidental death benefits and exclusive of any dividend additions, in an amount not less than the minimum amount of ordinary insurance issued by the insurer at the age of the insured on the plan of ordinary insurance desired.
[ 2009 c 549 s 7116; 1947 c 79 s .25.19; Rem. Supp. 1947 s 45.25.19.]

catchline: Conversion—Monthly premium policies.


title: RCW 48.25.200

text:
There shall be a title on the face of each such policy briefly describing its form.
[1947 c 79 s .25.20; Rem. Supp. 1947 s 45.25.20.]

catchline: Title on policy.


title: RCW 48.25.210

text:
Any of the provisions required by this chapter or any portion thereof which are not applicable to single premium or term policies or to policies issued or granted pursuant to nonforfeiture provisions, shall to that extent not be incorporated therein.
[1947 c 79 s .25.21; Rem. Supp. 1947 s 45.25.21.]

catchline: Application to term and specified insurance.


title: RCW 48.25.220

text:
No such policy shall contain:
(1) A provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer.
(2) A provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured has, within two years prior to the issuance of the policy, received institutional, hospital, medical or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning such treatment or attention was not of a serious nature or was not material to the risk.
(3) A provision giving the insurer the right to declare the policy void because the insured had been rejected for insurance, unless such right be conditioned upon a showing by the insurer, that knowledge of such rejection would have led to a refusal by the insurer to make such contract.
[1947 c 79 s .25.22; Rem. Supp. 1947 s 45.25.22.]

catchline: Prohibited provisions.


title: RCW 48.25.230

text:
The insurer may in any such policy limit its liability for the same causes and to the same extent as is provided in RCW 48.23.260 for other life insurance contracts.
[1947 c 79 s .25.23; Rem. Supp. 1947 s 45.25.23.]

catchline: Limitation of liability.


title: RCW 48.25.900

text:
For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to marital relationships and married persons, and references to dissolution of marriage shall apply equally to state registered domestic partnerships that have been terminated, dissolved, or invalidated, to the extent that such interpretation does not conflict with federal law. Where necessary to implement chapter 521, Laws of 2009, gender-specific terms such as husband and wife used in any statute, rule, or other law shall be construed to be gender neutral, and applicable to individuals in state registered domestic partnerships.
[ 2009 c 521 s 121.]

catchline: Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.


title: RCW 48.25A.010

text:
As used in this chapter:
(1) "Profit-sharing policy" means:
(a) A life insurance policy which by its terms expressly provides that the policyholder will participate in the distribution of earnings or surplus other than earnings or surplus attributable, by reasonable and nondiscriminatory standards, to the participating policies of the company and allocated to the policyholder on reasonable and nondiscriminatory standards; or
(b) A life insurance policy the provisions of which, through sales material or oral presentations, are interpreted by the company to prospective policyholders as entitling the policyholder to the benefits described in subsection (a) of this section.
(2) "Charter policy" or "founders policy" means:
(a) A life insurance policy which by its terms expressly provides that the policyholder will receive some preferential or discriminatory advantage or benefit not available to persons who purchase insurance from the company at future dates or under other circumstances; or
(b) A life insurance policy the provisions of which, through sales material or oral presentations, are interpreted by the company to prospective policyholders as entitling the policyholder to the benefits described in subsection (a) of this section.
(3) "Coupon policy" means a life insurance policy which provides a series of pure endowments maturing periodically in amounts not exceeding the gross annual policy premiums. The term "pure endowment" or "endowment" is used in its accepted actuarial sense, meaning a benefit becoming payable at a specific future date if the insured person is then living.
[ 1967 ex.s. c 95 s 5.]

catchline: Definitions.


title: RCW 48.25A.020

text:
No profit-sharing, charter, or founders policy shall be issued or delivered in this state after September 1, 1967.
[ 1967 ex.s. c 95 s 6.]

catchline: Certain policies not to be issued or delivered after September 1, 1967.


title: RCW 48.25A.030

text:
No coupon policy shall be issued or delivered in this state until the form of the same has been filed with and approved by the commissioner.
[ 1967 ex.s. c 95 s 7.]

catchline: Coupon policies—Approval by commissioner.


title: RCW 48.25A.040

text:
Coupon policies issued or delivered in this state shall be subject to the following provisions:
(1) No detachable coupons or certificates or passbooks may be used. No other device may be used which tends to emphasize the periodic endowment benefits or which tends to create the impression that the endowments represent interest earnings or anything other than benefits which have been purchased by part of the policyholder's premium payments.
(2) Each endowment benefit must have a fixed maturity date and payment of the endowment benefit shall not be contingent upon the payment of any premium becoming due on or after such maturity date.
(3) The endowment benefits must be expressed in dollar amounts rather than as percentages of other quantities or in other ways, both in the policy itself and in the sale thereof.
(4) A separate premium for the periodic endowment benefits must be shown in the policy adjacent to the rest of the policy premium information and must be given the same emphasis in the policy and in the sale thereof as that given the rest of the policy premium information. This premium shall be calculated with mortality, interest and expense factors which are consistent with those for the basic policy premium.
[ 1967 ex.s. c 95 s 8.]

catchline: Coupon policies—Requirements.


title: RCW 48.25A.050

text:
The commissioner may revoke all certificates of authority and licenses granted to any insurance company, its officers or agents violating any provision of this chapter.
[ 1967 ex.s. c 95 s 9.]

catchline: Revocation of certificates of authority and licenses for violation of chapter.


title: RCW 48.27.010

text:
(1) Over-insurance shall be deemed to exist if property or an insurable interest therein is insured by one or more insurance contracts against the same hazard in any amount in excess of the fair value of the property or of such interest, as determined as of the effective date of the insurance or of any renewal thereof, or in those instances when insured value is for improvements and land.
(2) For the purposes of this section only the term "fair value" means the cost of replacement less such depreciation as is properly applicable to the subject insured.
(3) No person shall knowingly require, request, issue, place, procure, or accept any insurance contract which would result in over-insurance of the property or interest therein proposed to be insured, except as is provided in RCW 48.27.020.
(4) No person shall compel an insured or applicant for insurance to procure property insurance in an amount in excess of the amount which could reasonably be expected to be paid under the policy (or combination of policies) in the event of a loss, whether such insurance is required in connection with a loan or otherwise.
(5) Each violation of this section shall subject the violator to the penalties provided by this code.
[ 1984 c 6 s 1; 1947 c 79 s .27.01; Rem. Supp. 1947 s 45.27.01.]

catchline: Over-insurance prohibited.


title: RCW 48.27.020

text:
By any contract of insurance of property or of any insurable interest therein, the insurer may in connection with a special provision or endorsement made a part of the policy insure the cost of repair or replacement of such property, if damaged or destroyed by a hazard insured against, and without deduction of depreciation, subject to such reasonable rules and regulations as may be made by the commissioner.
[ 1951 c 194 s 1; 1947 c 79 s .27.02; formerly Rem. Supp. 1947 s 45.27.02.]

catchline: Replacement insurance.


title: RCW 48.27.030

text:
(1) Every insurer issuing a homeowner, condominium unit owner, residential tenant, and residential fire insurance policy that does not cover damage caused by flood must notify the policyholder that the policy does not cover damage caused by flood. The notice must also inform the policyholder how to contact the national flood insurance program ("NFIP") or one of the NFIP's agents. This notice must be provided:
(a) At the time the policy is issued; and
(b) At the time the policy is renewed.
(2) The following language, when combined with current information about how to contact the NFIP or its agent, satisfies the notice requirements of this section:
"This policy does not cover damage to your property caused by flooding. The federal government offers flood insurance through the National Flood Insurance Program to residents of communities that participate in its program. You can learn more about the National Flood Insurance Program at www.floodsmart.gov or by calling (888) 379-9531."
(3) Nothing in this section invalidates a flood exclusion, or any other exclusion, in an insurance policy subject to this section.
[ 2009 c 14 s 1.]

catchline: Policy does not cover flood damage—Notice to policyholder.


title: RCW 48.28.010

text:
Whenever by law or by rule of any court, public official, or public body, any surety bond, recognizance, obligation, stipulation or undertaking is required or is permitted to be given, any such bond, recognizance, obligation, stipulation, or undertaking which is otherwise proper and the conditions of which are guaranteed by an authorized surety insurer, or by an unauthorized surety insurer as a surplus line pursuant to chapter 48.15 RCW of this code, shall be approved and accepted and shall be deemed to fulfill all requirements as to number of sureties, residence or status of sureties, and other similar requirements, and no justification by such surety shall be necessary.
[1947 c 79 s .28.01; Rem. Supp. 1947 s 45.28.01.]

catchline: Requirements deemed met by surety insurer.


title: RCW 48.28.020

text:
Any fiduciary required by law to give bonds, may include as part of his or her lawful expense to be allowed by the court or official by whom he or she was appointed, the reasonable amount paid as premium for such bonds to the authorized surety insurer or to the surplus line surety insurer which issued or guaranteed such bonds.
[ 2009 c 549 s 7117; 1955 c 30 s 1. Prior: 1947 c 79 s .28.02; Rem. Supp. 1947 s 45.28.02.]

catchline: Fiduciary bonds—Premium as lawful expense.


title: RCW 48.28.030

text:
In any proceeding the party entitled to recover costs may include therein such reasonable sum as was paid to such surety insurer as premium for any bond or undertaking required therein, and as may be allowed by the court having jurisdiction of such proceeding.
[ 1955 c 30 s 2. Prior: 1947 c 79 s .28.03; Rem. Supp. 1947 s 45.28.03.]
Notes:
Rules of court: Cf. RAP 14.3, 18.22.

catchline: Judicial bonds—Premium as part of recoverable costs.


title: RCW 48.28.040

text:
The premium for bonds given by such surety insurers for appointive or elective public officers and for such of their deputies or employees as are required to give bond shall be paid by the state, political subdivision, or public body so served.
[ 1955 c 30 s 3. Prior: 1947 c 79 s .28.04; Rem. Supp. 1947 s 45.28.04.]

catchline: Official bonds—Payment of premiums.


title: RCW 48.28.050

text:
A surety insurer may be released from its liability on the same terms and conditions as are provided by law for the release of individuals as sureties.
[1947 c 79 s .28.05; Rem. Supp. 1947 s 45.28.05.]

catchline: Release from liability.


title: RCW 48.29.005

text:
The commissioner may adopt rules to implement and administer this chapter, including but not limited to:
(1) Establishing the information to be included in the report required under RCW 48.29.015;
(2) Establishing the information required for the filing of rates for title insurance under RCW 48.29.147;
(3) Establishing standards which title insurance rate filings must satisfy under RCW 48.29.147;
(4) Establishing a date, which date shall not be earlier than January 1, 2010, by which all title insurers selling policies in this state must file their rates with the commissioner under RCW 48.29.143 and 48.29.147 rather than under RCW 48.29.140 and refile any rates that were in effect prior to the date established by the commissioner;
(5) Defining what things of value a title insurance insurer or title insurance agent is permitted to give to any person in a position to refer or influence the referral of title insurance business under RCW 48.29.210(2). In adopting rules under this subsection, the commissioner shall work with representatives of the title insurance and real estate industries and consumer groups in developing the rules;
(6) Establishing the fee for a license as a rating organization under RCW 48.29.410;
(7) Establishing license requirements that an applicant for a license as a rating organization and a licensee must comply with; and
(8) Requiring a rating organization to periodically update the title insurance rates, manuals of rules and rates, rating plans, rate schedules, minimum rates, class rates, or rating rules, filed by the rating organization on behalf of its members or subscribers.
[ 2017 c 103 s 23; 2008 c 110 s 9.]

catchline: Administration of chapter—Rules.


title: RCW 48.29.010

text:
(1) This chapter relates only to title insurers for real property.
(2) This code does not apply to persons engaged in the business of preparing and issuing abstracts of title to property and certifying to their correctness so long as the persons do not guarantee or insure the titles.
(3) For purposes of this chapter, unless the context clearly requires otherwise:
(a) "Abstract of title" means a written representation, provided under contract, whether written or oral, intended to be relied upon by the person who has contracted for the receipt of this representation, listing all recorded conveyances, instruments, or documents that, under the laws of the state of Washington, impart constructive notice with respect to the chain of title to the real property described. An abstract of title is not a title policy as defined in this subsection.
(b)(i) "Advisory organization" means a group, association, or other organization of insurers that assists insurers or rating organizations in rate making by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but that does not make filings under this chapter.
(ii) The term "advisory organization" does not include subscribers' committees provided for in RCW 48.29.430 or the statistical reporting agent provided for in RCW 48.29.017.
(c) "Associates of producers" means any person who has one or more of the following relationships with a producer of title insurance business:
(i) A spouse, parent, or child of a producer;
(ii) A corporation or business entity that controls, is controlled by, or is under common control with a producer;
(iii) An employer, employee, independent contractor, officer, director, partner, franchiser, or franchisee of a producer; or
(iv) Anyone who has an agreement, arrangement, or understanding with a producer, the purpose or substantial effect of which is to enable the person in a position to influence the selection of a title insurer or title insurance agent to benefit financially from the selection of the title insurer or title insurance agent.
(d) "Financial interest" means any interest, legal or beneficial, that entitles the holder directly or indirectly to any of the net profits or net worth of the entity in which the interest is held.
(e) "Member" means an insurer that participates in or is entitled to participate in the management of a rating organization or an advisory organization.
(f) "Preliminary report," "commitment," or "binder" means reports furnished in connection with an application for title insurance and are offers to issue a title policy subject to the stated exceptions in the reports, the conditions and stipulations of the report and the issued policy, and other matters as may be incorporated by reference. The reports are not abstracts of title, nor are any of the rights, duties, or responsibilities applicable to the preparation and issuance of an abstract of title applicable to the issuance of any report. The report is not a representation as to the condition of the title to real property, but is a statement of terms and conditions upon which the issuer is willing to issue its title policy, if the offer is accepted.
(g) "Producers of title insurance business" means real estate agents and brokers, lawyers, mortgagees, mortgage loan brokers, financial institutions, escrow agents, persons who lend money for the purchase of real estate or interests therein, building contractors, real estate developers and subdividers, and any other person who is or may be in a position to influence the selection of a title insurer or title insurance agent whether or not the consent or approval of any other person is sought or obtained with respect to the selection of the title insurer or title insurance agent.
(h)(i) "Rating organization" means an entity, the object or purpose of which is the adoption or making of title insurance forms, including forms of policy, application, rider, and endorsement, and title insurance rates, manuals of rules and rates, rating plans, rate schedules, minimum rates, class rates, and rating rules.
(ii) The term "rating organization" does not include two or more insurers operating under the authority granted in RCW 48.29.440.
(i) "Subscriber" means an insurer that employs the services of a rating organization for the purpose of making form or rate filings, whether or not the title insurer is a member of such rating organization.
(j) "Title policy" means any written instrument, contract, or guarantee by means of which title insurance liability is assumed.
[ 2017 c 103 s 2; 2008 c 110 s 1; 2005 c 223 s 14; 1997 c 14 s 1; 1947 c 79 s .29.01; Rem. Supp. 1947 s 45.29.01.]

catchline: Scope of chapter—Definitions.


title: RCW 48.29.015

text:
(1) A title insurance agent shall maintain records of its title orders sufficient to indicate the source of the title orders.
(2) Every title insurance agent shall file with the commissioner annually by March 15th of each year for the previous calendar year, unless the commissioner for good cause shown extends the time for filing, a report, on a form prescribed by the commissioner, setting forth:
(a) The names and addresses of those persons, if any, who have had a financial interest in the title insurance agent during the calendar year, who are known or reasonably believed by the title insurance agent to be producers of title business or associates of producers; and
(b) The percent of title orders originating from each person who owns, or had owned during the preceding calendar year, a financial interest in the title insurance agent.
(3) Each title insurance agent shall keep current the information required by that portion of the report required by subsection (2)(a) of this section by reporting all changes or additions within fifteen days after the end of the month in which it learns of each change or addition.
(4) Each title insurance agent shall file that portion of the report required by subsection (2)(a) of this section with its application for a license.
[ 2017 3rd sp.s. c 25 s 18; 2008 c 110 s 2.]

catchline: Requirement to maintain records—Report to commissioner.


title: RCW 48.29.017

text:
(1) The commissioner must designate one statistical reporting agent to assist him or her in gathering information on title insurance policy issuance, business income, and expenses and making compilations thereof. The costs and expenses of the statistical reporting agent must be borne by all the authorized title insurance companies and title insurance agents licensed to conduct the business of title insurance in this state. The commissioner may adopt rules setting forth how the costs and expenses of the statistical reporting agent are to be paid and apportioned among the authorized title insurers and licensed title insurance agents.
(2) Upon designation of a statistical reporting agent by the commissioner under subsection (1) of this section all authorized title insurance companies and licensed title insurance agents must annually, by May 31st, file a report with the statistical reporting agent of their policy issuance, business income, expenses, and loss experience in this state. The report must be filed with the statistical reporting agent in a manner and form prescribed by the commissioner by rule, which must be consistent with the manner and form adopted by the national association of insurance commissioners.
(3) The statistical reporting agent must review the information filed with it for completeness, accuracy, and quality within one hundred twenty days of its receipt. All title insurance companies and title insurance agents must cooperate with the statistical reporting agent to verify the completeness, accuracy, and quality of the data that they submitted.
(4) Within thirty days after completing its review of the information for quality and accuracy, the statistical reporting agent must file the information for each title insurance company and title insurance agent, individually and in the aggregate, with the commissioner with a copy of the aggregate data from such statistical reporting agent provided to each title insurer and title insurance agent.
(5) The commissioner may adopt rules to implement and administer this section.
(6) The statistical reporting agent may exchange aggregate information and experience data with title insurance companies and rating organizations in this state in accordance with RCW 48.29.470.
[ 2017 c 103 s 22; 2013 c 65 s 1.]

catchline: Statistical reporting agent—Duties—Required reports—Costs—Rules—Information and data exchange.


title: RCW 48.29.018

text:
(1) Information filed with the commissioner under RCW 48.29.017 must be kept confidential and is not subject to public disclosure under chapter 42.56 RCW, unless the commissioner finds, after notice and hearing with the affected parties, it is in the public interest to disclose the information.
(2) The commissioner may share the information in subsection (1) of this section with the national association of insurance commissioners and its affiliates and subsidiaries, regulatory and law enforcement officials of other states and nations, the federal government, and international authorities, provided that the recipient agrees to maintain the confidentiality and privileged status of the information.
(3) This section does not prohibit the commissioner from sharing or publishing the information in an aggregate form.
[ 2013 c 65 s 2.]

catchline: Information filed under RCW 48.29.017—Confidentiality.


title: RCW 48.29.020

text:
A title insurer is not entitled to have a certificate of authority unless:
(1) It is a stock corporation;
(2) It owns or leases and maintains a complete set of tract indexes of the county in this state in which its principal office is located; and
(3) It has and maintains the capital and surplus requirements set forth in RCW 48.05.340.
[ 2005 c 223 s 15; 1990 c 76 s 1; 1955 c 86 s 12; 1947 c 79 s .29.02; Rem. Supp. 1947 s 45.29.02.]
Notes:
Effective date—Supervision of transfers—1955 c 86: See notes following RCW 48.05.080.


title: RCW 48.29.040

text:
(1) Subject to the deposit requirements of *RCW 48.29.030, a title insurer having its principal offices in one county may be authorized to transact business in only such additional counties as to which it owns or leases and maintains, or has a duly authorized agent that owns or leases and maintains, a complete set of tract indexes.
(2) A title insurer not authorized to transact business in a certain county may purchase a title policy on property located therein from another title insurer which is so authorized in that county. The first title insurer may thereafter issue its own policy of title insurance to the owner of such property. The first title insurer may combine the insurance on the title of such property in a single policy which also insures the title of one or more other pieces of property. The first title insurer must pay the full premium based on filed rates for the policy, and must charge the precise same amount to its own customer for the insurance as to the title of such property. A title insurer using the authority granted by this subsection in a transaction must so notify its customer.
[ 1990 c 76 s 2; 1957 c 193 s 17; 1947 c 79 s .29.04; Rem. Supp. 1947 s 45.29.04.]
Notes:
*Reviser's note: RCW 48.29.030 was repealed by 2005 c 223 s 35.

catchline: May do business in two or more counties—Restrictions.