The bill amends RCW 48.19.010 to enhance the regulatory requirements for experience-rated group disability income insurers. It mandates that these insurers must include all applicable rating factors and credibility formulas in their rate manual filings with the insurance commissioner. This requirement aims to ensure transparency and accuracy in the rating process, allowing the commissioner to verify that a group is fully or partially credible and to replicate the premium rates based on the group's experience and demographics.

Specifically, the new legal language inserted into the current law emphasizes that insurers must provide detailed information regarding their experience rating formulas as part of their filings. This change is intended to improve oversight and ensure that the rates charged to consumers are justified and based on sound actuarial principles. The bill does not make any deletions from the existing law but rather adds clarity to the requirements for disability insurance filings.

Statutes affected:
Original Bill: 48.19.010