WA HB1842

Public utility districts (PUDs) established under Title 54 RCW may now form, own, or use captive insurers in accordance with chapter 48.201 RCW for managing their insurance risks

Municipal corporations organized under Title 54 RCW are added to the definition of "captive owner," alongside entities organized under business corporation, nonprofit, and partnership laws

Local government entities, including PUDs, may become captive owners and contract for risk management, claims, and administrative services under the expanded self-insurance framework

Eligible captive insurers must maintain assets exceeding liabilities by at least $1,000,000, be licensed in their domicile jurisdiction, and have audited financial statements from an independent certified accountant

Effective date: July 27, 2025; passed unanimously in both chambers (House 96-0, Senate 48-0)