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WA SB5141
Bill
Status
4/8/2025
Primary Sponsor
Adrian Cortes
Click for details
AI Summary
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Experience-rated group disability income insurers must include their experience rating formulas, all applicable rating factors, and credibility formulas in rate manual filings with the insurance commissioner
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Filings must be detailed enough to confirm whether a group is fully or partially credible and allow the commissioner to replicate premium rates using the group's experience and demographics
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Amends RCW 48.19.010 governing insurance rate regulation requirements
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Passed unanimously in both chambers (Senate 49-0, House 97-0) and signed by Governor Ferguson on April 8, 2025
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Effective date: July 27, 2025
Legislative Description
Requiring that experience-rated group disability income insurers include all applicable rating factors and credibility formulas in rate manual filings with the insurance commissioner.
Last Action
Effective date 7/27/2025.
4/8/2025