Washington Insurance Commissioner Issues $40K in Fines For Violations

Washington Insurance Commissioner Mike Kreidler issued $40,863 in fines in June against insurance companies and insurance producers for violations of state insurance laws and regulations.

Following are the parties fined and their reported violations:

Unauthorized insurers

Drico Insurance Co., Salt Lake City, Utah; fined $1,000

Drico, a nonresident captive insurer, transacted insurance business in Washington without being registered to do so by the OIC.

Christian Care Ministry, Melbourne, Florida.; fined $33,363

Christian Care Ministry Inc. acted as an unauthorized insurer by offering its Manna Share disability income program in Washington between 2007 and 2020. The company was ordered to stop selling insurance in Washington and will cease all business operations in the state by Dec. 31, 2023. The total includes a $20,000 fine and $13,363 for taxes, penalties and interest due.

Producers, agents and brokers

Aegis General Insurance Agency Inc., Harrisburg, Pennsylvania; fined $1,000

Aegis transacted business in Washington under a name not registered with the OIC.

Columbia Insurance Specialties, Vancouver, Washington; fined $5,000

The agency opened a new insurance policy for a Washington consumer without first obtaining their knowledge or consent.

Randall McDonald, Mukilteo, Washington; fined $250

Francisco Alonzo, Othello, Wash.; fined $250

Since 2001, Kreidler has assessed more than $39 million in fines, which are directed to the state’s general fund to pay for state services.

Topics Washington