We use financial regulation to make sure insurers can stay solvent and pay claims. The National Association of Insurance Commissioners (NAIC) accredits financial regulation in the U.S. This ensures consistent regulation across states and reduces redundancy. Most financial regulation staff have accounting experience.

We need to approve permitted accounting practices.

What to include in your request for approval

  • Company name and National Association of Insurance Commissioners (NAIC) number.
  • The date you want to start using the practice and the date of the first financial statement in which you'll report the practice.
  • A detailed description of the proposed accounting practice and how it differs from our requirements. Include citations from the NAIC Accounting Practices and Procedures Manual and/or Title 48 RCW.
  • Past periods when you used the proposed accounting practice, if applicable.
  • The period in which you'll use the proposed accounting practice (per WAC 284-07-530). We can only approve using permitted accounting practices for up to one calendar year.
  • Identify each line item on a financial statement and how your proposed accounting practices impact each. Show this by comparing the financial statement using our accounting practices with those using your proposed accounting practices.
  • Total financial impact on the capital and surplus. Show this for the proposed accounting practice and any other permitted accounting practices we previously approved. Compare financial statements using your proposed accounting practice with those that follow Title 48 RCW and the NAIC's Accounting Practices and Procedures Manual.
  • The capital and surplus impact of the proposed accounting practice. Include this on a legal entity basis, on the domestic insurer, its ultimate and intermediate parents and all affiliated U.S. insurers. Compare the capital and surplus effect with the financial statements that follow Title 48 RCW and the NAIC's Accounting Practices and Procedures Manual.

Where to send your request for approval

Send us a message

Company Supervision Filings

U.S. Postal Service mail

Washington state Office of the Insurance Commissioner
Company Supervision Division
P.O. Box 40255
Olympia, WA 98504-0255

Other carriers

Washington state Office of the Insurance Commissioner
Company Supervision Division
5000 Capitol Blvd.
Tumwater, WA 98501

You need to submit depository and dividend forms to:

  • Create, deposit or withdraw funds from a trust account.
  • Notify us about a dividend.

You can find links to those forms below.

Make sure to provide the Committee on Uniform Security Identification Procedures (CUSIP) numbers to identify the securities on deposit. You'll also need to share information about the security on the deposit and withdrawal request forms.

Before you make the actual transfer, we need to give written approval for any withdrawal, transfer of funds, or securities on deposit. 

Depository and dividend forms

Send your forms to:

Company Supervision
Office of the Insurance Commissioner
P.O. Box 40255
Olympia, WA 98504-0255

If you own more than 10% of any class of any equity security in Washington state stock insurance company, you need to file a beneficial ownership of securities report. For exceptions, see RCW 48.08.160.

Directors, officers and certain stockholders should use the forms that WAC 284-26-030 mentions.