RCW 48.05A.045
Failure to report—Fines.
The commissioner must require any insurer failing, without just cause, to file the ORSA summary report as required in this chapter, after notice and hearing, to pay a fine of five hundred dollars for each day's delay, to be recovered by the commissioner and the fine collected must be transferred to the treasurer for deposit into the state general fund. The maximum fine under this section is one hundred thousand dollars. The commissioner may reduce the fine if the insurer demonstrates to the commissioner that the imposition of the fine would constitute a financial hardship to the insurer.
[ 2015 c 17 § 9.]
Structure Revised Code of Washington
Chapter 48.05A - Risk Management and Solvency Assessment.
48.05A.005 - Purpose—Application—Findings—Intent.
48.05A.015 - Risk management framework required.
48.05A.020 - Must conduct an ORSA at least annually.
48.05A.025 - Submission of ORSA summary reports—Frequency—Requirements.
48.05A.030 - Insurer exemptions from chapter—Qualifying conditions—Reports.
48.05A.035 - ORSA summary report must be consistent with ORSA guidance manual.