Washington Code 48.32.010 – Purpose
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The purpose of this chapter is to provide a mechanism for the payment of covered claims to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders under certain policies of insurance covered by the scope of this chapter because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to provide an association to assess the cost of such protection among insurers.
Terms Used In Washington Code 48.32.010
- Association: means the Washington insurance guaranty association created in RCW 48. See Washington Code 48.32.030