BILL · 2003–04 SESSION

HB 2480: Insurance guarantee assc act

Changing the scope of the Washington insurance guarantee association act.

Summary

  • Creates a third account within the Washington Insurance Guaranty Association for longshore and harbor workers' compensation act insurance.
  • Asseses longshore and harbor worker insurers up to 2 percent of written premiums until the account reaches $500,000.
  • Authorizes the association to borrow funds from the longshore and harborworkers' compensation assigned risk plan, the industrial insurance fund of the state of Washington, or other sources approved by the Insurance Commissioner when insurer insolvencies create insufficient funds in the longshore and harbor worker account.

From the House Bill Analysis (HB 2480), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 14, 2004
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Geoff Simpson (D-47)
Introduced
January 14, 2004 in the House
Last action
January 14, 2004
Companion bill
ESB 6158
Budget
Has a fiscal note

AN ACT Relating to the Washington insurance guarantee association act;

Sponsors

Prime sponsor: Geoff Simpson (D-47)

1 co-sponsor (0 Democrats, 1 Republican)

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. First reading, referred to Financial Institutions & Insurance.

HB 2480 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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