The District of Columbia Insurance Regulatory Trust Fund Bureau was established pursuant to the District of Columbia Insurance Regulatory Trust Fund Act of 1993 (DC Official Code § 31-1201 et seq.) Pursuant to this act, all DC licensed insurance companies and health maintenance organizations (HMOs) shall be members of the District of Columbia Insurance Regulatory Trust Fund Bureau (RTFB).
The primary function of the RTFB is to advise the Commissioner of the DC Department of Insurance Securities and Banking (DISB) as well as the Executive Director of the District of Columbia Health Benefit Exchange Authority (Health Exchange) as to the need for the proposed annual assessments, the fairness of the proposed assessments, and any other matters with respect to the administration of the Insurance Regulatory Trust Fund.
DISB is the District of Columbia governmental agency that regulates the activities of insurance companies doing business in this jurisdiction. In as much as DISB is primarily funded through assessments on licensed insurers, the RTFB was created by statutory authority to provide the insurance industry with a mechanism by which to ensure that the funds collected from insurers through assessments are properly and most efficiently utilized in the regulation on the insurance industry. RTFB is charged with reviewing DISB’s annual budget, submitted to the DC Council. Additionally, D.C. Official Code § 31-1209, requires RTFB to periodically arrange for an independent audit of DISB’s and the Health Exchanges expenditures.
In order to carry out these activities, the RTFB assesses its membership (DC licensed insurance companies) assessment dues, billed annually, in the amount of $100 per carrier. The RTFB relies on DISB to provide a listing of current licensed carriers to which dues statements are mailed by the RTFB Executive Director. Prior to the Annual Members’ Meeting, each Insurer receives a proxy statement to return if unable to participate in the Annual Meeting in person. In-person votes and proxies are used to establish a quorum that enable the election of the Board of Directors; officers are subsequently elected by action of the Board at the Director’s Meeting, routinely convened following the adjournment of the Annual Members’ Meeting. Directors, aided by the services of an Executive Director engaged by the Board, oversee the operations of the RTFB pursuant to DC law.
The address noted below is applicable to Regular and Overnight USPS mail, as well as FEDX, UPS and other express mail service providers:
1455 Pennsylvania Avenue, NW
Suite 400
Washington, DC 20004
NOTE: Please use the above address for dues payment and other non-electronic mail correspondence.
Effective January 1, 2025, Thomas E. Hampton has been appointed the Executive Director of the DC RTFB. Questions may be addressed to the Executive Director, Thomas E. Hampton, at the following email address: [email protected].
