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Legislation watch
2010 House Bill 2419: Adding exemptions for out of state insurers from the three-year transaction requirement.
Introduced by Rep. Barbara Bailey (Oak Harbor) (R) on January 11, 2010
Provides that foreign or alien insurers who have a surplus of at least $25 million and deposit $1 million with the insurance commissioner for the sole benefit of Washington policy holders are exempted from the three-year transaction requirement that is otherwise imposed. (See also SB 6198). Official Text and Analysis.
Referred to the House Financal Institutions & Insurance Committee on January 11, 2010
Referred to the House Rules Committee on January 25, 2010
Allows certain applicants for a certificate of authority to be an insurer to provide a monetary deposit with the Insurance Commissioner instead of having a three-year history of selling the class or classes of insurance.
Received in the Senate on February 1, 2010
Referred to the Senate Financial Institutions, Housing & Insurance Committee on February 1, 2010
Referred to the Senate Rules Committee on February 25, 2010
Signed by Gov. Christine Gregoire on March 17, 2010
Allows certain applicants for a certificate of authority to be an insurer to provide a monetary deposit with the Insurance Commissioner instead of having a three-year history of selling the class or classes of insurance.