The bill aims to enhance consumer protection by increasing accountability for insurers who violate the insurance code in Washington State. It amends existing laws to empower the insurance commissioner with additional enforcement tools, including the ability to issue cease and desist orders, bring actions to enjoin violations, and order restitution for economic damages. The bill specifies that restitution must be paid within 30 days and includes provisions for calculating the date obligations arise, ensuring that consumers receive timely compensation for their losses.

Additionally, the bill modifies the penalties for insurers found in violation of the insurance code. It establishes a fine structure, setting a minimum fine of $250 and a maximum of $10,000 per violation, with specified timeframes for payment. The amendments also clarify the process for recovering unpaid fines through civil action, reinforcing the commissioner’s authority to revoke an insurer's certificate of authority if fines are not paid. Overall, these changes are designed to strengthen the regulatory framework governing insurers and protect consumers more effectively.

Statutes affected:
Original Bill: 48.02.080, 48.05.185
Substitute Bill: 48.02.080, 48.05.185