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closeTuesday, Jun. 24, 2008
State levies fines against insurance companies
Ingrid Stegemoeller, Herald staff writer
Insurance companies found in the wrong by the state insurance commissioner have received some hefty fines this year, according to the state Office of the Insurance Commissioner.
In the last three months, Insurance Commissioner Mike Kreidler has issued $490,000 in fines, the agency reported.
"Mega Life and Health Insurance Company was fined $150,000 for issuing coverage to three groups using policy forms that did not comply with Washington state law," the agency reported in a press release.
And Delaware-based AMT Service Corp. received a $100,000 fine, with half suspended, for not registering with the state before making contract sales in the state.
For a complete list of agencies fined, visit www.insurance.wa.gov/orders/enforcement.shtml.
-- Ingrid Stegemoeller: 582-1537; istegemoeller@tricityherald.com; Business Beat blog at www.tricityherald.com
| Pratik Joshi covers technology, employment, transportation, economic development and industrial growth. He joined the Herald in December 2006. He likes to write stories that educate. And there's hardly a subject he's not interested in. Drop him a line at pjoshi@tricityherald.com. |
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