Kreidler issues $607,000 in fines for violations in October

11/08/2023

OLYMPIA, Wash. — Insurance Commissioner Mike Kreidler issued fines in October totaling $607,613.35 against insurance companies and insurance producers who violated state insurance laws and regulations. 

Insurance companies

AIG Property Casualty Company, Chicago, Ill.; fined $2,000 (order 23-0182).

AIG used an incorrect rating factor in 49 instances.

Geico Advantage Insurance Company, Omaha, Neb.; fined $5,000 (order 23-0188).

Geico failed to conduct insurance business under the company’s legal name.

UnitedHealthcare Insurance Company, Hartford, Conn.;…

Kreidler asks court to uphold cease-and-desist order against insolvent Pennsylvania insurer

11/06/2023

OLYMPIA, Wash. — Insurance Commissioner Mike Kreidler petitioned the Thurston County Superior Court on Monday to declare his cease-and-desist order against Senior Health Insurance Company of Pennsylvania (SHIP) valid. The order requires SHIP, an insolvent company that sold long-term care insurance policies, not enforce any premium increases to Washington consumers due to the misleading coverage election packages it mailed in March 2022. 

In addition to misrepresenting benefits, SHIP’s election packages did not accurately reflect the company’s financial condition, which…

Sovereign Nations Insurance agrees to stop selling unauthorized insurance in Washington 

11/02/2023

OLYMPIA, Wash. — Sovereign Nations Insurance, LLC, has signed a settlement agreement with Insurance Commissioner Mike Kreidler and has agreed to cease its operations in Washington state. 

Kreidler ordered Sovereign Nations to stop selling unauthorized insurance products in Washington last year, issuing a cease-and-desist order on December 20. The company requested a hearing in response.   

Per the settlement agreement, signed on November 1, the company will end all insurance business in Washington and not re-enter the state insurance market. In return,…

Individual health insurance market open enrollment starts November 1

10/25/2023

The annual open enrollment period for Washington state’s individual health insurance market begins November 1, 2023, and runs through January 15, 2024. 

Health coverage selected during open enrollment goes into effect on January 1, 2024, for plans selected by December 15. Washington residents can preview qualified health and dental plans through Washington Healthplanfinder — including plan offerings and prices — through October 30. 

“We have a robust health insurance market,” said Washington state Insurance Commissioner Mike Kreidler. “Given the annual changes in…