Full text of Washington Revised Code of Washington § 48.15.040 — "Surplus line" coverage., with citation guidance and answers to common questions.
§ 48.15.040. "Surplus line" coverage.
If certain insurance coverages cannot be procured from authorized insurers, such coverages, hereinafter designated as "surplus lines," may be procured from unauthorized insurers subject to the following conditions:
(1) The insurance must be procured through a licensed surplus line broker under this chapter. If the insurance is property and casualty insurance, except industrial insurance under Title
51 RCW, then the insurance must be procured under the laws and rules of the insured's home state.
(2) The insurance must not be procurable, after diligent effort has been made to do so from among a majority of the insurers authorized to transact that kind of insurance in this state.
(3) Coverage shall not be procured from an unauthorized insurer for the purpose of securing a lower premium rate than would be accepted by any authorized insurer nor to secure any other competitive advantage.
(4) The commissioner may by regulation establish the degree of effort required to comply with subsections (2) and (3) of this section.
(5) At the time of procuring the insurance the surplus line broker must certify to the accuracy of the facts supporting the surplus line broker's diligent effort required in subsections (2) and (3) of this section.
(a) The certification must set forth the facts supporting the surplus line broker's diligent effort.
(b) The certification must state that under the penalty of suspension or revocation of the surplus line broker's license the facts contained in the certification are true and correct.
(c) The certification may be in electronic, digital, or another format as designated by the commissioner.
(d) The certification must be filed with the commissioner within sixty days after the insurance is procured.
Notes
Effective date—2011 c 31 s 3: "Section 3 of this act takes effect December 31, 2016." [
2011 c 31 s 11.]
Expiration date—2011 c 31 s 2: "Section 2 of this act expires December 31, 2016." [
2011 c 31 s 10.]
Effective date—2011 c 31: See note following RCW
48.15.010.
Frequently Asked Questions About Washington § 48.15.040
What does Revised Code of Washington § 48.15.040 cover?
Section 48.15.040 (""Surplus line" coverage.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Washington § 48.15.040?
A common citation format is "Revised Code of Washington § 48.15.040" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Washington law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.
How does Washington § 48.15.040 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Washington.
