Washington § 48.19.420 - Rate agreements.

Full text of Washington Revised Code of Washington § 48.19.420 — Rate agreements., with citation guidance and answers to common questions.

§ 48.19.420. Rate agreements.

Two or more insurers mutually may agree to adhere to rates, rating plans, rating systems or underwriting practices or uniform modifications thereof, all subject to the following conditions:
(1) All of the terms of the agreements shall be in writing executed on behalf of each such insurer.
(2) An executed copy of every such written agreement and of every modification thereof shall be filed with the commissioner.
(3) Within a reasonable length of time after every such filing, the commissioner shall either approve or disapprove such agreement or modification. No such agreement or modification shall be effective unless and until approved by the commissioner.
(4) The commissioner shall not approve any such agreement or modification which:
(a) Constitutes or would tend to result in an unreasonable restraint upon free competition;
(b) contains terms otherwise tending to injure the public interest.
(5) No cause of action shall lie in favor of any insurer which is party to any such agreement against any other insurer party thereto on account of any breach thereof.
(6) All rate filings covered by such agreement shall be subject to the provisions of this chapter or of other applicable law.
(7) The commissioner may after a hearing thereon and for cause withdraw any approval previously given any such agreement or modification.
[1947 c 79 s .19.42; Rem. Supp. 1947 s 45.19.42.]

Related Washington Legal Topics

Frequently Asked Questions About Washington § 48.19.420

What does Revised Code of Washington § 48.19.420 cover?

Section 48.19.420 ("Rate agreements.") 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 § 48.19.420?

A common citation format is "Revised Code of Washington § 48.19.420" (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 § 48.19.420 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.