Section 284-13-536 - Credit for reinsurance-Certain reinsurers maintaining trust funds-Liabilities definedFor purposes of WAC 284-13-520 through 284-13-538, liabilities means the assuming insurer's gross liabilities attributable to reinsurance ceded by United States domiciled insurers excluding liabilities that are otherwise secured by acceptable means, and, must include:
(1) For business ceded by domestic insurers authorized to write accident and disability, and property and casualty insurance:(a) Losses and allocated loss expenses paid by the ceding insurer, recoverable from the assuming insurer;(b) Reserves for losses reported and outstanding;(c) Reserves for losses incurred but not reported;(d) Reserves for allocated loss expenses; and(2) For business ceded by domestic insurers authorized to write life, disability and annuity insurance:(a) Aggregate reserves for life policies and contracts net of policy loans and net due and deferred premiums;(b) Aggregate reserves for accident and disability policies;(c) Deposit funds and other liabilities without life or disability contingencies; and(d) Liabilities for policy and contract claims.Wash. Admin. Code § 284-13-536
Adopted by WSR 15-24-126, Filed 12/2/2015, effective 1/2/2016Amended by WSR 21-20-042, Filed 9/27/2021, effective 1/1/2022