Washington (WiredPRNews.com) Insurance Commissioner Mike Kreidler announced this week that he has fined companies that provide Washington auto insurance, homeowner policies and other coverage nearly $1 million so far this year for violating state laws.
Violations included charging unapproved rates, improperly advertising and failing to offer health care coverage to children.
Kreidler urged Washingtonians who have complaints against coverage providers, agents or brokers to contact the state insurance department for assistance.
“Insurance can be complicated, and consumers deserve protection,” Kreidler said in a statement.
The announcement brings to light just one of the many services state regulators such as Kreidler provide on behalf of consumers throughout the nation.
In addition to assessing fines for breaking state laws, regulatory agencies protect consumers by overseeing providers of all types of coverage, from home and auto policies to life, health and other coverage.
Regulatory agencies nationwide protect consumers by overseeing providers of all types of coverage. These agencies act to help negotiate claim disputes between policyholders and companies, recovering millions of dollars each year in claims that might otherwise never have been paid.
Regulators in Washington and other states maintain records of complaints against individual companies and have legal authority to intervene if those companies are in danger of becoming insolvent, are violating state laws or are operating in a financially dangerous manner.
Among other actions, Kreidler has cut excessive rate increases on auto and homeowner policies by more than $300 million since 2000, helped policyholders recover about $10 million a year in disputed claims and successfully fought attempts by large, out-of-state coverage providers to run roughshod over consumers’ legal protections, according to his department’s website.
Fines paid by insurers will be deposited into the state’s general fund, according to the department.
To learn more about this and other car insurance issues, readers can go to http://www.onlineautoinsurance.com/washington/ where they will find informative resource pages and a helpful rate-comparison generator.