WAC 284-16-620. Process for establishing administrative supervision of an insurer

(1) The commissioner may issue an order for administrative supervision and appoint an administrative supervisor if the commissioner makes a finding that: (a) The insurer is in a condition which makes its continued operation financially hazardous to its policyholders, creditors or the general public; or (b) The insurer has exceeded its powers. (2) In making a determination in subsection (1) of this section, the commissioner will consider: (a) The conditions in RCW 48.31.020 (2)(a) to determine whether an insurer has exceeded its powers; or (b) The findings in RCW 48.31.400 (1), standards in WAC 284-16-310 , and authorized actions in WAC 284-16-320 (1) to determine whether an insurer is in financially hazardous condition.