News Archive

OLYMPIA, Wash. — As of June 1, 2024, insurance companies will have to let their policyholders know why their premiums have gone up. 

Washington state Insurance Commissioner Mike Kreidler’s new rule requires insurers to provide an answer on why premiums have gone up — and in 2027, they’ll have to provide that information automatically when a policy renews. 

“If your insurance company is going to increase your premium, you have a right to know why,” Kreidler said. “Hundreds of consumers, every year, have told us they are unable to get a clear answer from their…

OLYMPIA, Wash. — Washington state Insurance Commissioner Mike Kreidler is advising consumers to check their home insurance policies for water damage sublimits.

“A policy with a sublimit may provide lower monthly premiums, but people will be in for a surprise when they file a claim,” Kreidler said. “It’s important to know what you’re paying for and how much, or how little, you could be paying out of your own pocket if your home is damaged.”

Five companies writing home insurance policies in Washington have recently considered selling policies with optional water damage…

OLYMPIA, Wash. — Washington state Insurance Commissioner Mike Kreidler issued a cease-and-desist order and fined Fred Meyer Stores, Inc., $100,000 for selling insurance without state authorization.

Fred Meyer stores sold the GUARD Protection Plan, issued by Mack Camera & Video Service, to a consumer in Washington. That consumer filed a complaint with the Office of the Insurance Commissioner about the service contract, alleging claim delay and misrepresentation. 

The OIC determined that the GUARD plan, which Fred Meyer sold from June 2016 to November 2022,…

OLYMPIA — Washington state Insurance Commissioner Mike Kreidler has issued a technical assistance advisory (TAA) (PDF, 345.79 KB) to insurers on the use of Artificial Intelligence (AI) in their insurance practices. It draws from the guidance the National Association of Insurance Commissioners (NAIC) adopted on AI for insurers in 2023 (PDF, 272.42 KB).

The TAA reminds insurers that decisions or actions impacting consumers made or supported by advanced analytical and computational technologies, including AI, must comply with all applicable insurance laws and regulations. This…