SB 6027 (2023-24) was passed to align Washington’s Insurer Holding Company Act (Ch. 48.31B RCW) with the updated National Association of Insurance Commissioners (NAIC) model authorities including the Holding Company System Regulatory Act and Insurance Holding Company System Model Regulation with Reporting Forms. The NAIC revised these models in 2020 and adopted the updated versions as accreditation requirements for state insurance regulators effective Jan. 1, 2026.
This rulemaking will fully implement the new law and update NAIC model laws. It will also provide administrative guidance and regulatory clarification for the group capital calculation requirements, including insurance holding company exemptions. Additionally, this rulemaking is designed to adopt the complete group capital calculation framework recommended by the NAIC.
Adopted rule filed Sept. 17, 2024
Public hearing on Sept. 12, 2024
- The public hearing was held Sept. 12, 2024 at 9:00am PST
Proposed rulemaking filed Aug. 05, 2024
- The comment period for the CR-102 ended Sept. 13, 2024.
- No comments were submitted for the CR-102.
Notice to start rulemaking filed June 04, 2024
- The comment period for the CR-101ended July 19, 2024
- View previously submitted comments