Washington Insurance Guaranty Association Act (property and casualty guaranty association: covered claims, limits, assessments)

What this document is

Chapter 48.32 RCW - Washington Insurance Guaranty Association Act (property and casualty guaranty association: covered claims, limits, assessments) is a state statute published by Washington State Legislature (app.leg.wa.gov). It is one of the Washington documents that insurance license exam questions are written from, including washington property & casualty, washington personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• RCW 48.32.020 (Scope)

  “This chapter applies to all kinds of direct insurance, except life, title, surety, disability, credit, mortgage guaranty, workers' compensation, and ocean marine.”

• RCW 48.32.100(2) (Nonduplication of recovery)

  “Any person having a claim that may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that if it is a first party claim for damage to property with a permanent location,...”

• RCW 48.32.060(1)(a)(i) (Powers and duties of the association)

  “(a)(i) For other than covered claims involving the longshore and harbor workers' compensation act, be obligated to the extent of the covered claims existing prior to the order of liquidation and arising within thirty days after the order of liquidation, or before the policy expiration date if less...”

• RCW 48.32.090(1) (Effect of paid claims)

  “Any person recovering under this chapter shall be deemed to have assigned his or her rights under the policy to the association to the extent of his or her recovery from the association. Every insured or claimant seeking the protection of this chapter shall cooperate with the association to the...”

• RCW 48.32.030(4)(a) (Definitions--Covered claim)

  “(a) Except for longshore and harbor workers' compensation act insurance, an unpaid claim, including one for unearned premiums, that arises out of and is within the coverage of an insurance policy to which this chapter applies issued by an insurer, if such insurer becomes an insolvent insurer after...”

• RCW 48.32.100(1) (Nonduplication of recovery)

  “Any person having a claim against his or her insurer under any provision in his or her insurance policy which is also a covered claim shall be required to exhaust first any right under that policy. Any amount payable on a covered claim under this chapter shall be reduced by the amount of a recovery...”

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Questions about this source

More Washington sources

• RCW Title 48, Chapter 48.30 - Unfair Practices and Frauds (selected sections 48.30.010-48.30.155)State statute
• RCW Title 48, Chapter 48.17 - Insurance Producers, Title Insurance Agents and Adjusters (selected sections 48.17.060-48.17.600)State statute
• Chapter 48.05 RCW - Authorization of Insurers and General Requirements (certificate of authority, admission, deposits, discipline)State statute
• Chapter 48.22 RCW - Casualty Insurance (personal injury protection, underinsured and hit-and-run motorist coverage, assigned risk plans)State statute
• Chapter 48.02 RCW - Insurance Commissioner (broad powers, rule-making, orders, hearings and enforcement)State statute
• Chapter 48.20 RCW - Disability Insurance (individual accident and health policy provisions, required and optional provisions)State statute
• Chapter 48.03 RCW - Examinations (examination of the affairs and records of insurers and licensees)State statute
• Chapter 48.01 RCW - General Provisions (scope, and the definitions of insurance, insurer, insurance transaction and the public interest)State statute