Wash. Admin. Code § 284-20-006 - Washington Insurance Examining Bureau, Inc. - Audits to test adherence to rate filings
(1) In
performing the duty of determining that lawful premiums are being charged, the
commissioner finds that it is not reasonable or necessary, with regard to any
kind of insurance, to mandate that data relating to all policies issued be
submitted for examination. The commissioner finds, however, as to all kinds of
insurance falling within the scope of
chapter
48.19 RCW, that occasions
may arise where documents with respect to certain policies should be submitted
for examination in order to determine that lawful rates are being charged. The
required submission should be on a random audit basis or by designation of
certain specific policies.
(2)
Based on the preceding subsection and under
RCW
48.19.410 every insurer authorized to write
property or casualty insurance in the state of Washington:
(a) May submit to the Washington Insurance
Examining Bureau, Inc., for examination, the following information that relates
to property insurance as defined in
RCW
48.11.040:
(i) Any policies and the related daily
reports;
(ii) Binders;
(iii) Renewal certificates;
(iv) Endorsements; and
(v) Other evidences of insurance or the
cancellation of insurance.
(b) Shall make available to the bureau, the
information listed in (a)(i) through (v) of this subsection:
(i) When directed to do so by the
commissioner regarding a specifically identified policy; and
(ii) As may be required by the commissioner
for purposes of random audits designed to test the companies' adherence to rate
filings.
Notes
Statutory Authority: RCW 48.02.060, 48.30.010, 48.01.030, 48.05.280, 48.15.100 and 48.15.170. 98-22-109 (Matter No. R 98-13), § 284-20-006, filed 11/4/98, effective 12/5/98. Statutory Authority: RCW 48.02.060. 82-02-024 (Order R 81-9), § 284-20-006, filed 12/30/81.
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