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Washington Revised Code Title 48. Insurance § 48.37.090. Market conduct oversight personnel

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Market conduct oversight personnel shall be qualified by education, experience, and, where applicable, professional designations. The commissioner may supplement the in-house market conduct oversight staff with qualified outside professional assistance if the commissioner determines that the assistance is necessary.

(2) Market conduct oversight personnel have a conflict of interest, either directly or indirectly, if they are affiliated with the management of, and have, within five years of any market conduct action, been employed by, or own a pecuniary interest in the insurer, subject to any examination under this chapter. This section shall not be construed to automatically preclude an individual from being:

(a) A policyholder or claimant under an insurance policy;

(b) A grantor of a mortgage or similar instrument on the individual's residence from a regulated entity, if done under customary terms and in the ordinary course of business;

(c) An investment owner in shares of regulated diversified investment companies; or

(d) A settlor or beneficiary of a “blind trust” into which any otherwise impermissible holdings have been placed.

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Cite this article: FindLaw.com - Washington Revised Code Title 48. Insurance § 48.37.090. Market conduct oversight personnel - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-48-insurance/wa-rev-code-48-37-090/

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 before relying on it for your legal needs.

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