Numerous insurers nationwide are being acquired or merging, including licensed companies doing business here in Washington State. The Office of the Insurance Commissioner (OIC) is closely monitoring these transactions to ensure that the financial condition of the companies is sound and consumers are protected.
BCBSNC affiliation with Cambia Health Solutions
Blue Cross Blue Shield of North Carolina (BCBSNC) filed an application for acquisition of control of Cambia Health Solutions (Cambia) on April 18, 2019.
BCBSNC withdrew its application on September 27, 2019. The hearing proceedings are dismissed and closed. - Docket No 19-0216
COPIC Insurance Company and Michigan Professional Insurance Exchange acquisition and merger of Western Professional Insurance Company
COPIC Insurance Company (COPIC) and Michigan Professional Insurance Exchange (MPIE) filed an application for the acquisition and merger of Western Professional Insurance Company (WPIC) on August 1, 2019. Physicians Insurance A Mutual Company is the ultimate controlling person of WPIC, a Washington domestic property and casualty insurer.
We established the review process under a case management order to determine the fairness of the transaction and hear any objections to this proposed acquisition.
Information about the case management order and acquisition filings can be found in the Administrative Hearing website under Western Professional COPIC Michigan Professional Exchange - Docket No. 19-0378.
The presiding officer scheduled the hearing for November 14, 2019, at 9:00 a.m., at the Insurance 5000 Building, 5000 Capitol Boulevard, SE, Tumwater WA.