Revised Code of Washington - RCW Title 48 Insurance - Chapter 48.12 Assets And Liabilities

48.12.010 "Assets" defined
In any determination of the financial condition of any insurer there shall be allowed as assets only such assets as belong wholly and exclusively to ...

48.12.020 Nonallowable assets
In addition to assets impliedly excluded under RCW 48.12.010, the following expressly shall not be allowed as assets in any determination of the financial condition ...

48.12.030 Liabilities
In any determination of the financial condition of an insurer, liabilities to be charged against its assets shall include: (1) The amount of its capital ...

48.12.040 Unearned premium reserve, property, casualty, and surety insurance
(1) With reference to insurances against loss or damage to property, except as provided in RCW 48.12.050, and with reference to all general casualty insurances, ...

48.12.050 Unearned premium reserve, marine and transportation insurance
With reference to marine and transportation insurances, premiums on trip risks not terminated shall be deemed unearned and the commissioner may require the insurer to ...

48.12.060 Reserve -- Disability insurance
For all disability insurance policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies ...

48.12.070 Loss records
An insurer shall maintain a complete and itemized record showing all losses and claims as to which it has received notice, including with regard to ...

48.12.080 Increased reserves
(1) If the commissioner determines that an insurer's unearned premium reserves, however computed, are inadequate, he may require the insurer to compute such reserves or ...

48.12.090 Loss reserves -- Liability insurance
The reserves for outstanding losses and loss expenses under policies of personal injury liability insurance and under policies of employer's liability insurance shall be computed ...

48.12.100 Unallocated liability loss expense
Subject to any restrictions contained in the annual statement instructions or accounting practices and procedures manuals of the national association of insurance commissioners, all unallocated ...

48.12.110 Schedule of experience
Any insurer transacting any liability or workers' compensation insurances shall include in its annual statement filed with the commissioner, a schedule of its experience thereunder ...

48.12.140 "Loss payments," "loss expense" defined
"Loss payments" and "loss expense payments" as used with reference to liability and workers' compensation insurances shall include all payments to claimants, payments for medical ...

48.12.154 Rules
The commissioner may adopt rules to implement and administer chapter 379, Laws of 1997.[1997 c 379 § 9.]Notes: Purpose -- Intent -- 1997 c 379: ...

48.12.156 Qualified United States financial institution--Definition
For purposes of chapter 379, Laws of 1997, a "qualified United States financial institution" means an institution that complies with all of the following: (1) ...

48.12.158 Insolvency of non-United States insurer or reinsurer -- Maintenance of assets -- Claims
Upon insolvency of a non-United States insurer or reinsurer that provides security to fund its United States obligations in accordance with chapter 379, Laws of ...

48.12.160 Credit for reinsurance -- Trust fund -- Regulatory oversight
(1) Any insurance company organized under the laws of this state may take credit as an asset or as a deduction from loss or claim, ...

48.12.162 Credit for reinsurance -- Contract provisions -- After December 31, 1996 -- Payment -- Rights of original insured or policyholder
(1) Credit for reinsurance in a reinsurance contract entered into after December 31, 1996, is allowed a domestic ceding insurer as either an asset or ...

48.12.164 Credit for reinsurance -- Accounting or financial statement -- After December 31, 1996
Credit for reinsurance, as either an asset or a deduction, is prohibited in an accounting or financial statement of the ceding insurer in respect to ...

48.12.166 Assuming alien reinsurer -- Registration -- Requirements -- Duties of commissioner -- Costs
(1) The assuming alien reinsurer must register with the commissioner and must: (a) File with the commissioner evidence of its submission to this state's jurisdiction ...

48.12.168 Credit for reinsurance -- Foreign ceding insurer
(1) Unless credit for reinsurance or deduction from liability is prohibited under RCW 48.12.164, a foreign ceding insurer is allowed credit for reinsurance or deduction ...

48.12.170 Valuation of bonds
(1) All bonds or other evidences of debt having a fixed term and rate held by any insurer may, if amply secured and not in ...

48.12.180 Valuation of stocks
(1) Securities, other than those referred to in RCW 48.12.170, held by an insurer shall be valued, in the discretion of the commissioner, at their ...

48.12.190 Valuation of property
(1) Real property acquired pursuant to a mortgage loan or a contract for a deed, in the absence of a recent appraisal deemed by the ...

48.12.200 Valuation of purchase money mortgages
(1) Purchase money mortgages shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or ninety percent of ...