OLYMPIA, Wash. — Insurance Commissioner Mike Kreidler issued fines in September totaling $178,964 against insurance companies and insurance producers who violated state insurance laws and regulations.
Insurance companiesTransAmerica Life Insurance Company, Cedar Rapids, Iowa; fined $40,000 (order 23-0161).
TransAmerica failed to keep adequate accounts and records of its obligations and transactions, resulting in valuation errors on annuity policies. Thirty-eight policies in Washington were affected, 32 of which were active.Great American Alliance…