Does the Washington Insurance Commissioners Office regulate viatical settlements?
A. Yes, the Viatical Settlements Act was codified in 1995 (RCW 48.102) and grants the Insurance Commissioner authority to regulate viatical settlement brokers, providers, and the contracts between the providers and viators that are entered into in Washington. However, most of the provisions in the Act are intended to protect the viator’s interests, and does not provide protection for the investor.
