Washington State Insurance Statistical Reporting Requirements and Thresholds
Washington state regulates statistical reporting for property and casualty insurers under RCW 48.19.370, with general reporting requirements outlined in Chapter 284-24B WAC and medical professional liability-specific requirements in Chapter 284-24C WAC. Insurers with small premium volume, except for medical professional liability lines, are exempt from reporting if their premium volume does not exceed thresholds established in the National Association of Insurance Commissioners (NAIC) Statistical Handbook. For certain lines of business without premium thresholds in the NAIC handbook, insurers must report to a designated statistical agent regardless of premium size. Companies writing medical professional liability insurance must report data regardless of premium volume to the designated statistical agent as specified in Chapter 284-24C WAC.
Reporting obligations vary based on premium volume percentiles or dollar thresholds by line of business. For commercial auto insurance, only insurers in the top 98th percentile of state-written premium must report. Dwelling fire and allied lines require reporting by those with premiums in the top 90th percentile or exceeding $100,000. Other commercial lines like inland marine, business owners, and farm owners have reporting requirements dependent on premium volume exceeding $100,000 or the 98th percentile threshold. Certain personal lines such as private passenger auto, homeowners and mobile home insurance, glass, crop, mortgage guaranty, and workers’ compensation insurance require reporting from all companies regardless of premium volume. General liability insurers must adhere to thresholds or follow instructions from their statistical agent if below thresholds.
The reporting framework ensures that Washington state collects comprehensive insurance data essential for market analysis, regulatory oversight, and actuarial assessments. Insurers must closely monitor their premium volumes to understand their reporting responsibilities and maintain compliance with state and NAIC standards. The lack of a specific Washington statistical plan for small volume insurers simplifies reporting for some but imposes full reporting obligations for medical professional liability lines.
These regulations support transparency and accuracy in insurance data collection, aiding regulators in tracking market trends and insurer performance. Insurers are advised to coordinate with designated statistical agents and stay updated on premium thresholds and reporting requirements. Contact information including phone and fax is provided by the Washington state insurance department to assist insurers with reporting questions.
Overall, the Washington state reporting requirements reflect an organized regulatory approach to statistical data collection aligned with national standards and adjusted for state-specific considerations. The distinctions between premium thresholds, line of business, and designated agent instructions ensure reporting is targeted and efficient, facilitating robust insurance market oversight.