For Producers

Exempt commercial purchaser qualifications

Requirements to qualify as an exempt commercial purchaser
Requirements prior to January 1, 2015Requirements effective January 1, 2015

The person employs or retains a qualified risk manager to negotiate insurance coverage

This remains the same

The person has paid aggregate nationwide commercial property and casualty premiums of more than $100,000 in the immediately preceding 12 months

This remains the same

The person meets at least one of the following criteria:

A) The person possesses a net worth of more than $20 million, as the amount is adjusted under (b) of this subsection*

B) The person generates annual revenues of more than $50 million, as adjusted under (b) of this subsection*

C) The person employs more than 500 full-time or full-time-equivalent employees per insured or is a member of an affiliated group employing more than 1,000 employees in the aggregate

D) The person is a non-profit organization or public entity generating annual budgeted expenditures of at least $30 million, as the amount is adjusted under (b) of this subsection*

E) The person is a municipality with a population in excess of 50,000 persons

The person meets at least one of the following criteria:

A) The person's net worth is more than $22,040,000

B) The person generates annual revenues of more than $55,100,000

C) This remains the same

D) The person is a non-profit organization or public entity generating annual budgeted expenditures of at least $33,060,000

E) This remains the same

*RCW 48.15.010 (leg.wa.gov)