# WAC 284-13-516: WAC 284-13-516. Credit for reinsurance — Accredited reinsurers

> Washington · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_516

## Section

- **Citation:** WAC 284-13-516
- **Heading:** WAC 284-13-516. Credit for reinsurance — Accredited reinsurers
- **Jurisdiction:** Washington
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Administrative Code / Title 284 / Chapter 284-13 / Section 284-13-516

## Text

(1) Under RCW 48.12.415 , the commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that is accredited as a reinsurer in this state as of the date on which statutory financial statement credit for reinsurance is claimed. An accredited reinsurer must:
(a) File a properly executed Form AR-1 as set forth in WAC 284-13-595 as evidence of its submission to this state's jurisdiction and to this state's authority to examine its books and records;
(b) File with the commissioner a certified copy of a certificate of authority or other acceptable evidence that it is licensed to transact insurance or reinsurance in at least one state, or, in the case of a United States branch of an alien assuming insurer, is entered through and licensed to transact insurance or reinsurance in at least one state;
(c) File annually with the commissioner a copy of its annual statement filed with the insurance department of its state of domicile or, in the case of an alien assuming insurer, with the state through which it is entered and in which it is licensed to transact insurance or reinsurance, and a copy of its most recent audited financial statement; and
(d) Maintain a surplus as regards policyholders in an amount not less than twenty million dollars, or obtain the affirmative approval of the commissioner upon a finding that it has adequate financial capacity to meet its reinsurance obligations and is otherwise qualified to assume reinsurance from domestic insurers.
(2) If the commissioner determines that the assuming insurer has failed to meet or maintain any of these qualifications, the commissioner may upon written notice and opportunity for hearing, suspend or revoke the accreditation. Credit shall not be allowed a domestic ceding insurer under this section if the assuming insurer's accreditation has been revoked by the commissioner, or if the reinsurance was ceded while the assuming insurer's accreditation was under suspension by the commissioner.

## Nearby sections

- [WAC 284-13-160 WAC 284-13-160. Definition of "earned surplus."](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_160.md)
- [WAC 284-13-210 WAC 284-13-210. Valuation of bonds](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_210.md)
- [WAC 284-13-220 WAC 284-13-220. Valuation of other securities](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_220.md)
- [WAC 284-13-280 WAC 284-13-280. Real estate appraisals](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_280.md)
- [WAC 284-13-500 WAC 284-13-500. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_500.md)
- [WAC 284-13-503 WAC 284-13-503. Severability clause](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_503.md)
- [WAC 284-13-510 WAC 284-13-510. Credit for reinsurance — Reinsurer holding certificate of authority in this state](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_510.md)
- [WAC 284-13-516 WAC 284-13-516. Credit for reinsurance — Accredited reinsurers](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_516.md)
- [WAC 284-13-517 WAC 284-13-517. Credit for reinsurance — Reinsurer domiciled in another state](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_517.md)
- [WAC 284-13-520 WAC 284-13-520. Credit for reinsurance — Certain reinsurers maintaining trust funds](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_520.md)
- [WAC 284-13-530 WAC 284-13-530. Credit for reinsurance — Certain alien reinsurers maintaining trust funds — Single alien insurer](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_530.md)
- [WAC 284-13-531 WAC 284-13-531. Credit for reinsurance — Certain alien reinsurers maintaining trust funds — Assuming insurer discontinuing business](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_531.md)
- [WAC 284-13-532 WAC 284-13-532. Credit for reinsurance — Certain alien reinsurers maintaining trust funds — Group of incorporated and individual unincorporated underwriters](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_532.md)
- [WAC 284-13-533 WAC 284-13-533. Credit for reinsurance — Certain alien reinsurers maintaining trust funds — Group of incorporated insurers under common administration](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_533.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_284_13_516. Check the current official text before relying on it. Not legal advice.