Insurance Commissioner Mike Kreidler disciplines and issues fines to insurance companies totaling $724,000

Wednesday, July 24, 2019

Insurance Commissioner Mike Kreidler disciplined and issued fines in July totaling $724,000 against insurance companies, agents and brokers who violated state insurance regulations.
Insurance companies.

The office of the insurance commissioner issues fines every month for everything from improper paperwork to large and small-scale insurance fraud, from companies and individuals.

Molina Healthcare of Washington, Inc., Seattle; fined $600,000, order 19-0240

The health insurance company committed a number of violations involving provider networks, claims handling, consumer appeals and responding to Kreidler’s office. Kreidler suspended $200,000 of the fine as long as the company completes a compliance plan to correct the violations.

Preferred Contractors Insurance Risk Retention Group LLC, Billings, Mont.; fined $35,000, order 19-0270

The company accepted policy applications from an unlicensed producer and an unlicensed entity.

State Farm Fire and Casualty Co., Bloomington, Ill.; fined $20,000, order 19-0239

The company failed to attach a required endorsement to its commercial farm and ranch policies.

National Casualty Co., Columbus, Ohio; fined $20,000, order 19-0212

The company failed to use its correct legal name on more than half of its forms. Kreidler suspended $10,000 of the fine as long as the company reports that it has corrected all of its forms.

Employers Mutual Casualty Co., Des Moines, Iowa; fined $4,000, order 19-0243

The company failed to properly appoint producers and agencies and allowed unlicensed producers to process insurance transactions.



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