Bill > HB1714

This bill enables small businesses with 20 or fewer employees to create joint self-insurance programs for property and liability risks, allowing them to collectively pool and manage their insurance needs. The legislation provides a framework for small businesses to form collaborative risk management groups where they can jointly purchase insurance, share risk, contract for administrative services, and establish reserve funds. Key provisions include requiring prior approval from the state risk manager, mandating detailed management plans, establishing standards for program operations, and providing oversight mechanisms. The bill defines a "small business entity" as a for-profit business with no more than 20 employees, and it allows these entities to form programs that can jointly purchase insurance, hire risk management personnel, and create legal structures to manage their collective insurance needs. The state risk manager will be responsible for approving these programs, monitoring their financial health, and ensuring they operate safely and transparently. The legislation is designed to give small businesses more flexibility in managing their insurance risks while maintaining regulatory safeguards to protect participants.

Budget and Finance, Business and Industry

https://app.leg.wa.gov/billsummary?BillNumber=1714&Year=2025&Initiative=false