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284-07-510  <<  284-07-520 >>   284-07-530

WAC 284-07-520

Agency filings affecting this section

Information to be included in a permitted accounting practice request.

A request for a permitted accounting practice must contain, at a minimum, all of the following information:
(1) The proposed effective date and the date of the first filed financial statement in which the proposed permitted accounting practice will be reported;
(2) A detailed description of the permitted accounting practice being requested, including specific citation to the NAIC Accounting Practices and Procedures Manual or state prescribed accounting practices from which the proposed permitted accounting practice will depart;
(3) The periods, if any, in which the proposed permitted accounting practice was previously in effect;
(4) The period in which the proposed permitted accounting practice will be effective (e.g., specific beginning and ending dates);
(5) Specific identification of each financial statement line item and its respective impact from the proposed permitted accounting practice. The respective impact must compare the financial statements prepared in accordance with RCW 48.05.073, 48.36A.263, 48.43.097, or 48.125.090(2) and financial statements incorporating the permitted accounting practices;
(6) The total financial impact on the capital and surplus of the proposed permitted accounting practice and any other previously granted permitted accounting practices. The total impact must compare the financial statements prepared in accordance with RCW 48.05.073, 48.36A.263, 48.43.097, or 48.125.090(2) and financial statements incorporating the permitted accounting practice; and
(7) The capital and surplus effect of the proposed permitted accounting practice, on a legal entity basis, on the domestic insurer, its ultimate and intermediate parents and all affiliated United States insurers. The capital and surplus effect must compare the financial statements prepared in accordance with RCW 48.05.073, 48.36A.263, 48.43.097, or 48.125.090(2) and financial statements incorporating the permitted accounting practice on a legal entity basis on the domestic insurer, its ultimate and intermediate parents and all affiliated United States insurers.
[Statutory Authority: RCW 48.02.060, 48.44.050, and 48.46.200. WSR 09-03-102 (Matter No. R 2008-26), ยง 284-07-520, filed 1/21/09, effective 2/21/09.]