Premium change transparency (R 2022-01)

Effective Date

June 01, 2024

Date adopted

June 21, 2023

Date proposed

February 01, 2022

Recently adopted

Insurers and regulated entities

This rule relates to transparency in underwriting by clarifying the scope of insurer responsibility for adverse actions, premiums, rate changes and consumer notices.

Amended laws & rules:

New WAC 284-30A - Premium change transparency

Rulemaking process

Concise Explanatory Statement filed June 21, 2023

Concise Explanatory Statement (CES) (PDF 937.65 KB)

Comments

No comments

Adopted rule filed June 21, 2023

CR-103P (PDF 401.05 KB)

Comments

No comments

Interested parties meetings and public hearing held April 25, 2023

Comments

No comments

Proposed rulemaking filed March 14, 2023

CR-102 (PDF 498.58 KB)

Comments

American Property Casualty Insurance Association (pdf, 610.67 KB)

Consumer Federation of America (pdf, 305.52 KB)

Independent Insurance Agents and Brokers of Washington (pdf, 126.84 KB)

NW Council and NAMIC (pdf, 655.06 KB)

Interested parties meetings and public hearing held February 2, 2023

Comments

No comments

Fourth prepublication draft meeting presentation released January 30, 2023

Public hearing (PDF 922.18 KB)

Comments

No comments

Fourth prepublication draft released January 30, 2023

Fourth prepublication draft (PDF 360.24 KB)

Comments

American Property Casualty Insurance Association (pdf, 910.09 KB)

Consumer Federation of America (pdf, 284.85 KB)

Independent Insurance Agents and Brokers of Washington (pdf, 288.21 KB)

NW Council and NAMIC (pdf, 1.06 MB)

Interested parties meetings and public hearing held November 10, 2022

Comments

No comments

Third prepublication draft released October 27, 2022

Third prepublication draft (PDF 350.34 KB)

Comments

NW Insurance Council (pdf, 284.2 KB)

Insurance Services Office, Inc. (pdf, 589.2 KB)

Consumer Federation of America (pdf, 86.24 KB)

American Property Casualty Insurance Association (APCIA) (pdf, 410.39 KB)

Industry survey released August 4, 2022

DUE DATE EXTENDED to September 15, 2022

The transparency rulemaking survey was a voluntary rulemaking survey conducted under the Commissioner’s general authority. The purpose of the voluntary rulemaking survey is to better understand the financial impact this rule may have on the insurance industry. Having survey answers and feedback from the industry will be extremely helpful to the OIC in its efforts to balance consumer protections and maintain a healthy business market during the rulemaking process.