WSR 16-11-062
PREPROPOSAL STATEMENT OF INQUIRY
OFFICE OF
INSURANCE COMMISSIONER
[Insurance Commissioner Matter No. R 2016-12-Filed May 13, 2016, 2:50 p.m.]
Subject of Possible Rule Making: Amendment of WAC 284-30-330(16) to allow insurance companies to implement procedures for the processing and payment of claims to include other forms of payment, including, but not limited to, electronic funds transfer or a prepaid card.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW
48.02.060 and
48.30.010.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: When WAC 284-30-330(16) was adopted in 1987, electronic banking and transfer of funds did not exist to the extent that is available currently. With the availability of new methods of making payments that now exist, insurers could make payments of claims quicker and more efficiently if permitted to establish procedures to make payments in other forms rather than being restricted to just either check or drafts as currently required in WAC 284-30-330(16). Therefore, the commissioner will consider adopting an amendment to this subsection that will allow insurance companies to establish procedures to make claims payments by additional methods.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Submit written comments by June 30, 2016, to Jim Tompkins, P.O. [Box] 40260, Olympia, WA 98504-0260, e-mail rulescoordinator@oic.wa.gov, fax (360) 586-3109.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jim Tompkins, P.O. [Box] 40260, Olympia, WA 98504-0260, e-mail rulescoordinator@oic.wa.gov, fax (360) 586-3109.
May 13, 2016
Mike Kreidler
Insurance Commissioner
