Washington § 48.22.050 - Market assistance plans.

Full text of Washington Revised Code of Washington § 48.22.050 — Market assistance plans., with citation guidance and answers to common questions.

§ 48.22.050. Market assistance plans.

The commissioner shall by regulation require insurers authorized to write casualty insurance in this state to form a market assistance plan to assist persons and other entities unable to purchase casualty insurance in an adequate amount from either the admitted market or nonadmitted market.
For the purpose of this section, a market assistance plan means a voluntary mechanism by insurers writing casualty insurance in this state in either the admitted or nonadmitted market to provide casualty insurance for a class of insurance designated in writing to the plan by the commissioner.
The bylaws and method of operation of any market assistance plan shall be approved by the commissioner prior to its operation.
A market assistance plan shall have a minimum of twenty-five insurers willing to insure risks within the class designated by the commissioner. If twenty-five insurers do not voluntarily agree to participate, the commissioner may require casualty insurers to participate in a market assistance plan as a condition of continuing to do business in this state. The commissioner shall make such a requirement to fulfill the quota of at least twenty-five insurers. The commissioner shall make his or her designation on the basis of the insurer's premium volume of casualty insurance in this state.
[ 1986 c 305 s 906.]

Notes

Preamble—Report to legislature—Applicability—Severability—1986 c 305: See notes following RCW 4.16.160.

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Frequently Asked Questions About Washington § 48.22.050

What does Revised Code of Washington § 48.22.050 cover?

Section 48.22.050 ("Market assistance plans.") 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 § 48.22.050?

A common citation format is "Revised Code of Washington § 48.22.050" (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.

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Sources & Verification

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