Washington State Insurance Laws 2024 Latest Update!

What is the Insurance Commissioner's primary duty? - ANSWER Administer and enforce the Insurance Code. T / F: The Insurance Commissioner prosecutes code violations. - ANSWER False: The IC may issue orders or bring court actions, but state attorneys prosecute. T / F: The Insurance Commissioner makes and interprets the Insurance Code. - ANSWER False: State legislature governs these laws. How often are Certificates of Authority examined? - ANSWER 5 years When must an insurer file a policy form or rate with the Insurance Commissioner? - ANSWER Prior to using How long may the Commissioner suspend a producer's license? - ANSWER 1 year How long may the Commissioner revoke a producer's license? - ANSWER 1 year How much written notice must the Commissioner provide before suspending, revoking or non-renewing a producer's license? - ANSWER 15 days How much written notice must the Commissioner provide when suspending a license as an emergency action to protect public safety? - ANSWER 3 days When can the Commissioner immediately revoke a license without a hearing? - ANSWER Upon sentencing for a felony conviction which demonstrates the licensee to be "untrustworthy" What are the minimum and maximum fines allowed by the Commissioner for code violations? - ANSWER $10 to $1,000 What is the maximum jail term for an insurance code violation? - ANSWER 364 days When must you pay code fines and penalties? - ANSWER 15 to 30 days after order to pay What happens if you fail to pay a code penalty? - ANSWER License revocation; action in civil courts to recover fine Where do Insurance Code fines go? - ANSWER Paid to WA State Treasurer and deposited in the general fund How long do you have to appeal the Commissioner's decision? - ANSWER 90 days How soon after filing an appeal must the Commissioner hold a new court hearing? - ANSWER 30 days What could happen to someone performing unlicensed insurance activities? - ANSWER Guilty of a Class B felony; Commissioner may issue cease/desist order, suspend/revoke