Sovereign Nations Insurance, LLC signed a settlement agreement with Washington Insurance Commissioner Mike Kreidler to cease its operations in the state.
Kreidler ordered Sovereign Nations to stop selling unauthorized insurance products in Washington last year, issuing a cease-and-desist order on December 20. The company requested a hearing in response.
The settlement agreement requires the company to end all insurance business in Washington and not re-enter the state insurance market. In return, Kreidler’s office agreed not fine the company for selling insurance without authorization.
The company is based in Utah and describes itself as a tribally owned and controlled domestic health insurance company, regulated by the three tribes that created it. The company sold eight insurance policies to Washington consumers without being authorized to do so. The health plans it sold also contained pre-existing condition exclusions and waiting periods, which are illegal in Washington, according to Kriedler’s office.
Topics Washington
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