WASHINGTON STATUTES AND CODES

48.31.020 - Definitions -- Insurer, exceeded its powers, consent.

Definitions — Insurer, exceeded its powers, consent.

(1) For the purposes of this chapter, other than as to RCW 48.31.010, and in addition to persons included under RCW 48.99.010, the term "insurer" shall be deemed to include an insurer authorized under chapter 48.05 RCW, an insurer or institution holding a certificate of exemption under RCW 48.38.010, a health care service contractor registered under chapter 48.44 RCW, and a health maintenance organization registered under chapter 48.46 RCW, as well as all persons engaged as, or purporting to be engaged as insurers, institutions issuing charitable gift annuities, health care service contractors, or health maintenance organizations in this state, and to persons in process of organization to become insurers, institutions issuing charitable gift annuities, health care service contractors, or health maintenance organizations.

     (2) The definitions in this subsection apply throughout this chapter unless the context clearly requires otherwise.

     (a) "Exceeded its powers" means the following conditions:

     (i) The insurer has refused to permit examination of its books, papers, accounts, records, or affairs by the commissioner, his or her deputies, employees, or duly commissioned examiners as required by this title or any rules adopted by the commissioner;

     (ii) A domestic insurer has unlawfully removed from this state books, papers, accounts, or records necessary for an examination of the insurer;

     (iii) The insurer has failed to promptly comply with the filing of any applicable financial reports as required by this title or any rules adopted by the commissioner;

     (iv) The insurer has neglected or refused to observe a lawful order of the commissioner to comply, within the time prescribed by law, with any prohibited deficiency in its applicable capital, capital stock, or surplus;

     (v) The insurer is continuing to transact insurance or write business after its license has been revoked or suspended by the commissioner;

     (vi) The insurer, by contract or otherwise, has unlawfully or has in violation of an order of the commissioner or with respect to a transaction to which the insurer has without first having obtained written approval of the commissioner if approval is required by law:

     (A) Totally reinsured its entire outstanding business; or

     (B) Merged or consolidated substantially its entire property or business with another insurer; or

     (vii) The insurer engaged in any transaction in which it is not authorized to engage under this title or any rules adopted by the commissioner.

     (b) "Consent" means agreement to administrative supervision by the insurer.