Oregon — All insurance producers and producer license applicants: The Oregon Division of Financial Regulation (DFR) wishes to publish a bulletin regarding producer contact information, communications, and application guidance.
Purpose
The purpose of this bulletin is to clarify Division of Financial Regulation (DFR) expectations for insurance producers and producer license applicants to provide:
1. Proper contact information and notification of changes in address or contact information.
2. Notification of regulatory action or criminal case.
3. Timely response to a director inquiry.
4. Accurate and complete information in applications and information sent to the division.
5. When applying for an insurance license to submit no more than one application at a time.
Public comments requested:
Public comment will be accepted for 4 weeks. Please submit public comment to DFR.Bulletin@dcbs.oregon.gov.
Last day for public comment: Friday, August 18, 2023, 5 p.m.
Click here to review proposed bulletin:
https://dfr.oregon.gov/laws-rules/Documents/Bulletins/proposed/insurance-producer-contact-info.pdf
Washington — Rule-Making Agenda for the rest of 2023: Click this link to see Washington Insurance Commissioner Mike Kreidler’s rule making agenda for the rest of 2023 — https://www.insurance.wa.gov/sites/default/files/documents/July-2023-semi-annual-rulemaking-agenda.pdf?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=
Washington — Request for information: BBPA dispute resolution mechanism
Thank you for your interest in balance billing from the Washington State Office of the Insurance Commissioner.
On February 1, 2023, OIC released a request for information (RFI) for the Balance Billing Protection Act (BBPA) dispute resolution mechanism. OIC solicited comments as to whether, under the authority provided in RCW 48.49.040, Washington state should transition to the federal No Surprises Act (NSA) Independent Dispute Resolution (IDR) process on July 1, 2023 or continue to use the BBPA arbitration system to resolve disputes between carriers (or self-funded group health plans that have elected to participate in the BBPA) and nonparticipating providers.
On February 27, 2023, in response to comments received to the request for information, OIC announced that it would be delaying transition to the NSA IDR system for a minimum of six months.
We are now releasing a second request for information soliciting comments as to whether Washington state should transition to the federal NSA IDR system on January 1, 2024, or continue to use the BBPA arbitration system to resolve disputes between carriers (or self-funded group health plans that have elected to participate in the BBPA) and nonparticipating providers. For more information on this RFI or the BBPA, please visit our webpage on arbitration.
Comments on this RFI are due August 4, 2023; please send them to policy@oic.wa.gov. OIC will provide an update on this issue on or before September 1, 2023.
Washington — Notice of rulemaking on eliminating prelicensing education requirements for insurance producers (R 2023-04): We are starting rulemaking (R 2023-04) to implement HB 1061 which amends existing law to eliminate the requirement that an applicant for a resident insurance producer license complete a pre-licensure course of study for the lines of authority for which the person applied. Rulemaking is required to remove language referencing pre-licensing education from existing rules to align with newly the amended statute.
Comments are due August 9, 2023; please send them to rulescoordinator@oic.wa.gov.
For more information, including the notice to start rulemaking (CR-101), please visit the rule’s webpage.
Washington — Notice of rulemaking on best interest standard for annuities (R 2023-05): We are starting rulemaking (R 2023-05) to implement Chapter 64, Laws of 2023, concerning the best interest standard for annuities. HB 1120, concerning the best interest standard for annuities, passed during the 68th Legislative Session. The new law will update Washington’s ‘suitability standard’ for annuity transactions to a ‘best interest’ threshold and aligns with updates the National Association of Insurance Commissioners (NAIC) made to Model Regulation # 275 on Annuity Transactions. The new law requires producers (and insurers where no producer is involved) to act in the best interests of their consumers when recommending annuities, complete annuity specific training, and to establish and maintain recommendation supervision systems that ensure the insurance needs and financial objectives of consumers are effectively addressed.
The Commissioner is considering rulemaking to fully align the regulations in the Insurance Code with the new law and updates to NAIC Model Regulation # 275. OIC rulemaking will be needed to update training requirements, revise the prior ‘suitability standard’ with the new ‘best interest’ threshold, and generally achieve alignment between the applicable authorities.
Comments are due August 2, 2023; please send them to rulescoordinator@oic.wa.gov.
For more information, including the notice to start rulemaking (CR-101), please visit the rule’s webpage.
Washington — Notice of rulemaking on risk mitigation goods and services in property insurance (R 2023-03): We are starting rulemaking (R2023-03) to implement SSB 5720 (2023) which amends existing law to no longer exclude commercial property insurers from providing goods and services intended to reduce the probability of loss as part of an insurance policy. SSB 5720 removes the commissioner’s rulemaking authority to increase the value of risk mitigation goods and services. The purpose of this rule is to align existing rule language with newly amended statutes.
Comments are due October 2, 2023, please send them to rulescoordinator@oic.wa.gov.
For more information, including the notice of expedited rulemaking (CR-105), please visit the rule’s webpage.
Washington — Notice of rulemaking on the revising the prior authorization process (R 2023-02): We are starting rulemaking (R 2023-02) to implement Chapter 382, Laws of 2023, concerning prior authorization modernization for commercial health plans under RCW 48.43. The new law alters prior authorization decision timelines, electronic and non-electronic submission standards, and communication and reporting requirements. OIC rulemaking is necessary to ensure the statutory changes are aligned with WAC 284-43, 284-170, and any other affected chapters.
Comments are due August 7, 2023; please send them to rulescoordinator@oic.wa.gov.
For more information, including the notice to start rulemaking (CR-101), please visit the rule’s webpage.
Washington — Notice of rulemaking on the implementation of SHB 1266 (R 2023-01): We are starting rulemaking (R2023-01) to implement SHB 1266 (Chapter 27, Laws of 2023.) This law clarified how the Commissioner may communicate with licensees. This rulemaking is to align which address of record the Commissioner will rely on to communicate with licensees.
Comments are due August 9, 2023 please send them to rulescoordinator@oic.wa.gov.
For more information, including the notice to start rulemaking (CR-101), please visit the rule’s webpage.
