Key Takeaways
- The Washington Office of the Insurance Commissioner (OIC) regulates all insurance activities under the Revised Code of Washington (RCW) Title 48
- The Insurance Commissioner is elected by Washington voters to a 4-year term and has broad regulatory authority
- OIC handles licensing, enforcement, consumer complaints, rate review, and market conduct examinations
- Washington requires fingerprinting and background checks for all insurance license applicants
- The OIC can impose fines up to $25,000 per violation for insurance code violations
Washington Office of the Insurance Commissioner (OIC)
Important: This study guide covers Washington state-specific Life & Health insurance content only. You should complete the national Life & Health exam preparation first, as it covers the foundational insurance concepts tested on your exam.
The Washington Office of the Insurance Commissioner (OIC) is the state agency responsible for regulating the insurance industry in Washington State. Like California, Washington's Insurance Commissioner is elected by voters.
The Insurance Commissioner
The Insurance Commissioner is:
- Elected by Washington voters to a 4-year term
- One of only 11 states where the commissioner is elected
- Responsible for enforcing the Revised Code of Washington (RCW) Title 48
- Authorized to adopt regulations, investigate violations, and discipline licensees
Commissioner Powers and Duties
| Power | Description |
|---|---|
| Licensing | Issue, suspend, and revoke producer licenses |
| Rulemaking | Adopt Washington Administrative Code (WAC) regulations |
| Enforcement | Investigate and prosecute violations |
| Rate Review | Approve or disapprove insurance rates |
| Consumer Protection | Handle complaints and protect policyholders |
| Market Conduct | Examine insurer business practices |
The Revised Code of Washington (RCW) Title 48
Washington insurance law is found in RCW Title 48 - Insurance. The RCW contains:
- Licensing requirements for producers and insurers
- Policy standards and required provisions
- Consumer protections and disclosure requirements
- Prohibited practices and penalties
- Claims handling requirements
Exam Tip: Remember that the Insurance Commissioner is ELECTED in Washington (one of only 11 states). Washington insurance law is in RCW Title 48.
OIC Organization
OIC operates through several divisions:
- Producer Licensing Division - Handles agent/broker licensing
- Rates and Forms Division - Reviews insurance rates and policy forms
- Company Supervision Division - Monitors insurer financial health
- Consumer Protection Division - Handles consumer complaints
- Investigations Unit - Investigates fraud and violations
How is the Washington Insurance Commissioner selected?
Where is Washington insurance law primarily found?