The bill seeks to modernize and correct various statutes under the jurisdiction of the insurance commissioner in Washington State by repealing outdated laws and aligning state policies with federal regulations. It amends multiple sections of the Revised Code of Washington (RCW), focusing on areas such as the confidentiality of insurance-related information, the refund process for taxes and fees, and criteria for motor vehicle and dwelling insurance rates. Key amendments include a clarified timeline for requesting tax refunds within six years and fee refunds within 13 months, as well as requirements for insurers to consider safety device benefits when determining insurance rates. The bill also updates definitions and requirements for charitable gift annuities, ensuring organizations meet specific criteria for exemptions.

Additionally, the bill introduces new registration requirements for entities marketing guaranteed asset protection waivers for motor vehicle financing, mandating registration with the commissioner and detailing the application process, including a $250 fee. It also repeals several existing statutes related to health insurance market stability and other insurance provisions, including the guaranteed asset protection waiver account. The bill emphasizes transparency by requiring health carriers to submit detailed annual reports and mandates the insurance commissioner to publish reports on medical malpractice claims. The provisions of the bill are set to take effect on January 1, 2026, aiming to enhance consumer protections and ensure equitable access to necessary health services while maintaining regulatory oversight.

Statutes affected:
Original Bill: 42.56.400, 48.200.040, 48.19.460, 48.19.501, 48.19.540, 48.37.050, 48.38.010, 48.38.012, 48.43.0128, 48.43.115, 48.43.135, 48.43.743, 48.135.030, 48.02.190, 48.140.050, 48.150.100, 48.160.020
Substitute Bill: 42.56.400, 48.200.040, 48.19.460, 48.19.501, 48.19.540, 48.37.050, 48.38.010, 48.38.012, 48.43.0128, 48.43.135, 48.43.743, 48.135.030, 48.02.190, 48.140.050, 48.150.100, 48.160.020