OLYMPIA, Wash. – Insurance Commissioner Mike Kreidler sent a letter today to 136 insurers requesting specific information about consumers’ premiums after they removed credit as a rating factor. He took this action in response to testimony he heard from consumers during the public hearing on Nov. 23. In particular, he wants to fully understand the impact of this rule on homeowner, auto and renter insurance markets. Responses are due Dec. 20.
“I heard testimony from people who saw their rates change as a result of this rule,” said Kreidler. “I am asking insurers to share data about how they applied these changes to their policyholders.”