Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(1) The report required by RCW 48.05.380 shall include the types of insurance written by the insurer for policies pertaining to:
(a) Medical malpractice for physicians and surgeons, hospitals, other health care professions, and other health care facilities individually;
(b) Products liability. However, if comparable information is included in the annual statement required by RCW 48.05.250, products liability data must not be reported under RCW 48.05.380;
(c) Attorneys' malpractice;
(d) Architects' and engineers' malpractice;
(e) Municipal liability; and
(f) Day care center liability.
(2) The report shall include the following data by the type of insurance for the previous year ending on the thirty-first day of December:
(a) Direct premiums written;
(b) Direct premiums earned;
(c) Net investment income, including net realized capital gain and losses, using appropriate estimates where necessary;
(d) Incurred claims, development as the sum of the following:
(i) Dollar amount of claims closed with payments; plus
(ii) Reserves for reported claims at the end of the current year; minus
(iii) Reserves for reported claims at the end of the previous year; plus
(iv) Reserves for incurred but not reported claims at the end of the current year; minus
(v) Reserves for incurred but not reported claims at the end of the previous year; plus
(vi) Reserves for loss adjustment expense at the end of the current year; minus
(vii) Reserves for loss adjustment expense at the end of the previous year.
(e) Actual incurred expenses allocated separately to loss adjustment, commissions, other acquisition costs, advertising, general office expenses, taxes, licenses and fees, and all other expenses;
(f) Net underwriting gain or loss;
(g) Net operation gain or loss, including net investment income; and
(h) Other information requested by the insurance commissioner.
(3) The report shall be filed annually with the commissioner, no later than the first day of May.
Cite this article: FindLaw.com - Washington Revised Code Title 48. Insurance § 48.05.390. Reports by various insurers--Contents - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-48-insurance/wa-rev-code-48-05-390/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?