A measure introduced by Sen. Jan Angel that would enhance protection for insurance consumers has received strong approval from the Legislature.
Angel, R-Port Orchard, said Senate Bill 6059 would provide the Office of Insurance Commissioner with better insight into the corporate governance framework of an insurer or insurance group, allowing for more frequent reviews and assessments.
“This bill aims to ensure policies, procedures and internal oversight are in place and are effective,” Angel said. “With better understanding of the insurance companies’ corporate governance systems, the Office of the Insurance Commissioner will be more able to assess whether existing governance structures are in place to protect consumers in our state.”
The House of Representatives passed the bill 98-0 Tuesday. The Senate approved it 47-2 in January. The proposal now goes to Gov. Jay Inslee for final consideration.