What is the minimum deposit amount required for an alien insurer seeking a certificate of authority?

The minimum deposit amount required for an alien insurer seeking a certificate of authority in Washington is $200,000. This requirement serves as a financial assurance that the insurer is capable of fulfilling its obligations to policyholders and beneficiaries. The deposit acts as a safeguard, demonstrating the insurer's financial stability and commitment to operating within the state's jurisdiction.

The figure of $200,000 is specifically outlined in the regulatory framework governing insurance entities in Washington, ensuring that alien insurers have sufficient resources to back their policies. This regulatory measure aims to protect consumers by ensuring that insurers maintain a level of financial integrity and are able to cover potential claims made against them while doing business in the state.