Kreidler’s groundbreaking captive insurer bill signed into law

05/12/2021

OLYMPIA, Wash. – A bill to provide a framework to captive insurers doing business in Washington state became law today after Gov. Jay Inslee signed the legislation. Second Substitute SB 5315 (leg.wa.gov) was requested by Insurance Commissioner Mike Kreidler and sponsored by Sen. Mark Mullet, D-Issaquah. 

The bill requires that captives operating in Washington state must:

Register with Kreidler’s office. Pay a registration fee of $2,500. Pay an annual 2% premium tax on insurance by March 1 every year, starting in 2022.

An independent study commissioned…

Over 50 insurers meet deadline to comply with emergency rule on credit

05/07/2021

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler announced that more than 50 insurance companies met the May 6 deadline to file rating plans that comply with his emergency rule to temporarily prohibit the use of consumers’ credit scores.  

The temporary ban on the use of credit scores for insurance takes effect June 20. Companies that failed to meet the deadline are in violation of state law and are subject to disciplinary action by Kreidler’s office.

Approximately 200 companies are licensed to sell auto, homeowner and renter insurance in Washington. However, not…

Oak Harbor man will serve 45 days in jail for claiming theft of car he sold

04/30/2021

OLYMPIA, Wash. – Arnold F. Bodner pleaded guilty to one count of filing a fraudulent insurance claim in Island County Superior Court in connection with an auto insurance claim. Bodner will serve 45 days in the Island County Jail starting May 1 and was ordered to pay $1,100 in fines and court fees.

Officials charged Bodner after an investigation by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit (CIU).  

According to Kreidler’s investigation, Bodner sold his 2006 Hummer H3 to an auto dealer in December 2018 for $4,000. In March 2019, he filed a claim…

Kreidler extends emergency order on telehealth coverage

04/30/2021

OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler extended his emergency order directing all state-regulated health insurers to make additional coverage changes to aid consumers during the coronavirus pandemic. His order is in effect until May 30 and requires health insurers to:

Continue coverage for providing telehealth via methods including telephone and video chat tools such as Facetime, Facebook Messenger video chat, Google Hangout video, Skype and Go-to-Meeting.  Treat drive-up testing sites for COVID-19 as provider visits with no copay, coinsurance or deductible.…