Sen. Jan Angel’s bill that would enhance protection for insurance consumers was passed 47-2 by the Senate Thursday night.
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.
“The goal of this bill is to ensure policies, procedures and internal oversight are in place and are effective,” Angel said. “With greater understanding of the insurance companies’ corporate governance system, the Office of the Insurance Commissioner will be better able to assess whether existing governance structures are in place to protect consumers in our state.”
SB 6059 now goes to the House of Representatives for consideration.