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House Bill 1230 — Rate Manual Filings, Experience-Rated Group Disability Income Insurance (Washington)

Summary

House Bill 1230 of the State of Washington 69th Legislature, 2025 Regular Session, by Representative Hackney, prefiled January 9, 2025, read first time January 13, 2025 and referred to the Committee on Consumer Protection & Business. The bill is an act relating to requiring that experience-rated group disability income insurers include all applicable rating factors and credibility formulas in rate manual filings with the insurance commissioner, and it amends RCW 48.19.010. The amended text says such filings must be detailed enough to confirm that a group is fully or partially credible and to allow the commissioner to replicate the premium rates for the experience-rated group.

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“House Bill 1230 — Rate Manual Filings, Experience-Rated Group Disability Income Insurance (Washington).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-03-19-a33054-bill-1230-535e710def/, SHA-256 41fe8a02f86c1c79963a6d532fd7dc26aba79c52a6e547c75eda8422c1c5c931.

Full text

     H-0347.1

                                 HOUSE BILL 1230


     State of Washington         69th Legislature     2025 Regular Session

     By Representative Hackney

     Prefiled 01/09/25. Read first time 01/13/25.    Referred to Committee
     on Consumer Protection & Business.




1        AN ACT Relating to requiring that experience-rated group
2    disability income insurers include all applicable rating factors and
3    credibility formulas in rate manual filings with the insurance
4    commissioner; and amending RCW 48.19.010.


5    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:


 6       Sec. 1. RCW 48.19.010 and 2015 c 19 s 4 are each amended to read
 7   as follows:
 8       (1) Except as is otherwise expressly provided the provisions of
 9   this chapter apply to all insurances upon subjects located, resident
10   or to be performed in this state except:
11       (a) Life insurance;
12       (b) Disability insurance;
13       (c) Reinsurance except as to joint reinsurance as provided in RCW
14   48.19.360;
15       (d) Insurance against loss of or damage to aircraft, their hulls,
16   accessories, and equipment, or against liability, other than workers'
17   compensation and employers' liability, arising out of the ownership,
18   maintenance(([,])), or use of aircraft;
19       (e) Insurance of vessels or craft, their cargoes, marine
20   builders' risks, marine protection(([,])), and indemnity; and such
21   other risks commonly insured under marine, as distinguished from
                                       p. 1                         HB 1230
 1   inland marine, insurance contracts as may be defined by ruling of the
 2   commissioner for the purposes of this provision;
 3       (f) Title insurance.
 4       (2) Except, that every insurer shall, as to disability insurance,
 5   before using file with the commissioner its manual of classification,
 6   manual of rules and rates, and any modifications thereof except as
 7   provided under RCW 48.43.733 or rate filing requirements established
 8   by a specific statute or federal law. In the case of experience-rated
 9   group disability income insurance, insurers shall include in such
10   filings their experience rating formulas including all applicable
11   rating factors and credibility formulas as part of the rate manual.
12   Such filings must be detailed enough to confirm that a group is fully
13   or partially credible and to allow the commissioner to replicate the
14   premium rates for the experience-rated group if given the experience
15   and demographics of the group.

                                  --- END ---




                                      p. 2                         HB 1230

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