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WA HB1006
Bill
Status
Passed
4/16/2025
Primary Sponsor
Cindy Ryu
Click for details
AI Summary
- Allows service contract providers and protection product guarantee providers to hold multiple reimbursement insurance policies concurrently, rather than requiring a single policy covering all contracts
- Requires reimbursement insurance policies to pay contract holders directly if the provider fails to perform within 30 days of proof of loss, or immediately if the provider has ceased operations
- Consolidates financial responsibility requirements for protection product guarantee providers and motor vehicle service contract providers by referencing existing standards in RCW 48.110.050, eliminating duplicative statutory language
- Converts spelled-out dollar amounts and time periods to numerical format throughout the chapter (e.g., "$15,000,000" instead of "fifteen million dollars," "30 days" instead of "thirty days")
- Effective date: July 27, 2025; passed unanimously by House (96-0) and Senate (48-0)
Legislative Description
Regulating service contracts and protection product guarantees.
Last Action
Effective date 7/27/2025.
4/16/2025
Committee Referrals
Rules3/27/2025
Business, Financial Services & Trade1/31/2025
Rules1/23/2025
Consumer Protection & Business1/13/2025
Full Bill Text
No bill text available