OLYMPIA, Wash. — Washington state Insurance Commissioner Mike Kreidler fined New York Life Insurance Company $46,328 (fortress.wa.gov) in January for failing to make sure its insurance producers were up to date on their training requirements.
Insurance agents are required to receive specific long-term care training and continuing education to ensure they have the knowledge to properly sell long-term care products. The legislature requires insurers to share in the responsibility through an annual education verification process.
New York Life Insurance failed to…