RCW 48.05.290
Withdrawal of insurer—Reinsurance.
(1) No insurer shall withdraw from this state until its direct liability to its policyholders and obligees under all its insurance contracts then in force in this state has been assumed by another authorized insurer under an agreement approved by the commissioner. In the case of a life insurer, its liability pursuant to contracts issued in this state in settlement of proceeds under its policies shall likewise be so assumed.
(2) The commissioner may waive this requirement if he or she finds upon examination that a withdrawing insurer is then fully solvent and that the protection to be given its policyholders in this state will not be impaired by the waiver.
(3) The assuming insurer shall within a reasonable time replace the assumed insurance contracts with its own, or by endorsement thereon acknowledge its liability thereunder.
[ 2009 c 549 § 7019; 1947 c 79 § .05.29; Rem. Supp. 1947 § 45.05.29.]
Structure Revised Code of Washington
Chapter 48.05 - Insurers—General Requirements.
48.05.010 - "Domestic," "foreign," "alien" insurers defined.
48.05.030 - Certificate of authority required.
48.05.040 - Certificate of authority—Qualifications.
48.05.045 - Certificate of authority not to be issued to governmentally owned insurer.
48.05.050 - "Charter" defined.
48.05.060 - "Capital funds" defined.
48.05.070 - Application for certificate of authority.
48.05.073 - Filing of financial statements.
48.05.080 - Foreign insurers—Deposit.
48.05.090 - Alien insurers—Assets required—Trust deposit.
48.05.100 - Alien insurers—Deposit resolution.
48.05.105 - Foreign or alien insurers—Three years active transacting required—Exception.
48.05.110 - Issuance of certificate of authority.
48.05.120 - Certificate of authority—Duration, renewal, amendment.
48.05.130 - Certificate of authority—Mandatory refusal, revocation, suspension.
48.05.140 - Certificate of authority—Discretionary refusal, revocation, suspension.
48.05.150 - Notice of intention to refuse, revoke, or suspend.
48.05.160 - Period of suspension.
48.05.170 - Reauthorization, limitation upon.
48.05.185 - Fine in addition or in lieu of suspension, revocation, or refusal.
48.05.200 - Commissioner as attorney for service of process—Exception.
48.05.220 - Venue of actions against insurer.
48.05.270 - Alien insurer—Capital funds, determination.
48.05.280 - Records and accounts of insurers.
48.05.290 - Withdrawal of insurer—Reinsurance.
48.05.320 - Reports of fire losses.
48.05.330 - Insurers—Combination of kinds of insurance authorized—Exceptions.
48.05.340 - Capital and surplus requirements.
48.05.350 - General casualty insurer combining disability, fidelity, insurance.
48.05.380 - Reports by property and casualty insurers—Rules.
48.05.383 - Statement of actuarial opinion—Property and casualty insurance.
48.05.385 - Statement of actuarial opinion—Property and casualty insurance—Confidentiality.
48.05.390 - Reports by various insurers—Contents.
48.05.400 - Annual filing and fee to National Association of Insurance Commissioners—Penalty.
48.05.410 - Health care practitioner risk management training.
48.05.440 - Company action level event—Definition—RBC plan—Commissioner's review.
48.05.445 - Regulatory action level event—Definition—Commissioner's duties—Corrective actions.
48.05.450 - Authorized control level event—Definition—Commissioner's duties.
48.05.455 - Mandatory control level event—Definition—Commissioner's duties.
48.05.460 - Insurer's right to a hearing—Request—Commissioner sets date.
48.05.480 - No liability for regulation of capital and surplus requirements.
48.05.485 - Notices by commissioner—When effective.
48.05.515 - Material acquisitions or dispositions.
48.05.520 - Asset acquisitions—Asset dispositions.
48.05.525 - Report of a material acquisition or disposition of assets—Information required.
48.05.530 - Material nonrenewals, cancellations, or revisions of ceded reinsurance agreements.