May 5, 2016
OLYMPIA, Wash. — Insurance Commissioner Mike Kreidler today announced that he has asked insurance companies that do business in Washington to collect and report information regarding the diversity of their suppliers and governing boards.
The companies in Washington that Kreidler asked to participate in a survey are:
- Regence BlueShield
- LifeWise Health Plan
- Premera Blue Cross
- Community Health Plan of Washington
- Delta Dental
- Group Health Cooperative and Group Health Options
“Diversity in hiring and boards is not only fair, it makes good business sense,”
Each company collects at least $300 million in premiums annually. The survey will be issued to the insurers on June 1.
“Diversity in hiring and boards is not only fair, it makes good business sense,” Kreidler said. “I’m glad to see insurers doing business in Washington taking part in this survey. We need to work together to make sure the insurance industry’s contractors and boards reflect the people we serve.”
In addition to Washington, insurance commissioners from Washington D.C., Minnesota, New York, Oregon and California have agreed to survey insurers to determine to what extent they are opening the doors of economic opportunity to minority, women, LGBT and disabled veteran-owned businesses in contracting or purchasing goods and services. The commissioners will also survey insurers on the diversity of their boards of directors.
The national diversity initiative builds on the success that California has seen since Commissioner Dave Jones first launched the California Insurance Diversity Survey and Initiative in 2012.
Since California began the survey in 2012, insurer procurement from diverse suppliers has risen 63 percent there – a $586.6 million increase in spending.
The latest national survey will collect and make public information about the diversity of insurers’ governing boards and procurement from and contracts with diverse suppliers in all six participating states and nationwide. Insurers representing 75 percent of the nation’s market will be surveyed.
The six commissioners sent a letter to 600 insurance companies to advise them of the survey.
Read what other state insurance commissioners are saying about the national diversity initiative.
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