Skip to main content
Find a Lawyer

Washington Revised Code Title 48. Insurance § 48.13.051. Written investment policy required--Annual review--Contents

Current as of April 06, 2022 | Updated by FindLaw Staff

In acquiring, investing, exchanging, holding, selling, and managing investments, an insurer shall establish and follow a written investment policy that shall be reviewed and approved by the insurer's board of directors at least annually. The content and format of an insurer's investment policy are at the insurer's discretion, but shall include written guidelines appropriate to the insurer's business as to the following:

(1) The delegation and monitoring of policies, procedures, and controls covering all aspects of the investing function;

(2) Quantified goals and objectives regarding the composition of classes of investments, including maximum internal limits;

(3) Periodic evaluation of the investment portfolio as to its risk and reward characteristics. This subsection shall not preclude an insurer from the use of modern portfolio theory to manage its investments;

(4) Professional standards for the individuals making day-to-day investment decisions to assure that investments are managed in an ethical and capable manner;

(5) The types of investments to be made and those to be avoided, based on their risk and reward characteristics and the insurer's level of experience with the investments;

(6) The relationship of classes of investments to the insurer's insurance products and liabilities;

(7) The manner in which the insurer intends to implement RCW 48.13.041; and

(8) The level of risk, based on quantitative measures, appropriate for the insurer given the level of capitalization and expertise available to the insurer.

Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Washington Revised Code Title 48. Insurance § 48.13.051. Written investment policy required--Annual review--Contents - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-48-insurance/wa-rev-code-48-13-051/

Read this complete Washington Revised Code Title 48. Insurance § 48.13.051. Written investment policy required--Annual review--Contents on Westlaw. Westlaw subscription required.

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?

Search all Washington Codes

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.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard