Washington state insurance markets: Our annual report

Each year, we issue an annual report summarizing the insurance markets in Washington state, selected financial statement data, authorized insurers by line of business, top companies, top groups, company changes, etc.

Get 'em before they're sold out. (That's a joke. They're online only, and we have no shortage of pixels.)

New report: What repeal of the Affordable Care Act would mean in WA

We've just posted a new report detailing the effects in Washington state of the federal health care reform law. Among them:

Numerous consumer protections built into the law have already taken effect. Among these: drug discounts for more than 1 million Washington seniors, tax breaks for small businesses, and parents can now keep their adult children on the parents' health policy until age 26.

We also estimate that more than 800,000 Washingtonians who today have no health coverage at all would qualify for free or subsidized coverage in 2014.

Turning 65 soon?

If you or someone you know will be turning age 65 in the next year or so, check out our new Medicare web pages. We launched a series of web pages called “What is Medicare?” to help people who will soon become eligible for Medicare. The information provides a basic overview of Medicare, explaining the different parts and options available to people.

For additional help with Medicare choices, we also offer our free, unbiased and confidential Statewide Health Insurance Benefits Advisors (SHIBA) service. We have more than 300 volunteer advisors around the state who we extensively train to help advise people on their Medicare options. SHIBA’s a great service. These folks can help you navigate the Medicare maze. Call 1-800-562-6900 and ask to speak with a SHIBA advisor in your area.

Insurance and broken windows

Q: Am I covered if my son breaks a neighbor's window while he's hitting rocks with his baseball bat or mowing our lawn?

A: Generally yes -- if it's an accident. Your homeowners policy will typically cover this type of accident at home or even away from home. But if it was a deliberate act, the damage may not be covered.

Also, consider your deductible. If the estimate to repair the window is small, it may be worth it to pay the damages out of pocket.

Note: This is one of a series of common -- or in some cases, particularly unusual -- questions received by our consumer advocacy staff, who answer questions from consumers.
Got a question or insurance problem of your own? If you live in Washington, feel free to give us a call, toll-free at 1-800-562-6900. We'll do our best to help. (And if you live in another state or territory, here's a handy map that lists the contact info for your local insurance regulatory office.)

WA to get at least $450,000 in MetLife settlement

From a press release our office issued this morning:

OLYMPIA, Wash. – Washington stands to receive at least $450,000 as part of a multi-state settlement with Metropolitan Life Insurance Company.

The $40 million settlement, which was announced in April and now involves at least 28 states, is based on concerns raised by insurance regulators over the extent of MetLife’s efforts to investigate and pay life insurance benefits. MetLife did not admit liability.

Under the terms of the settlement, MetLife agreed to regularly check the Social Security death master file or similar records to determine if its life insurance policyholders, annuity owners or retained asset account holders have died. The company will then make efforts to locate beneficiaries and pay claims.

“From what we’ve seen, I’m happy to report that there don’t appear to be major or widespread problems in Washington state with paying life insurance benefits in a timely manner,” said Insurance Commissioner Mike Kreidler. “But it’s important to hold companies accountable when they fail to pay benefits when due.”

Under Washington state law, insurers must pay interest on a life insurance policy from the date of death. Unclaimed policies are turned over to the state’s unclaimed property fund, which holds the money for any future claims.

Washington’s share of the settlement, to be determined in early July, depends on the number of states that sign on to the settlement. The money will go into the state’s general fund.

Spokane-area woman convicted of theft in insurance case

A Liberty Lake, Wash. woman pleaded guilty today in Spokane County Superior Court to theft for filing thousands of dollars in false insurance claims.

Sarah Shireee Walters was sentenced to 10 days in jail, which was converted to 80 hours of community service. She was also ordered to pay more than $4,000 in restitution and fees.

Walters and her husband, Jeremy Walters were both employees of Liberty Mutual/Safeco insurance company since early 2010. They had a renter's policy for their apartment in Liberty Lake.

Last April, Sarah Walters called Safeco and reported the loss of two Gateway laptops and computer games while the couple was on a day trip. The company processed the claim and issued a check for $1,524.

A few weeks later, Walters again called Safeco. This time, she reported the loss of two $500 iPod Touch devices, a set of $450 Dr. Dre headphones and a $580 camera. She said she'd left them in a Spokane park, and that they may have been stolen. The couple was sent a $2,030 check.

Less than three weeks after that, Walters again called Safeco to say that she'd lost two EVO phones and a BlackBerry. She said she'd had all three phones in her sweater pocket at the park.

After three claims in three months, the company referred the claim to one of its investors. Confronted with discrepancies in the claims, Sarah Walters admitted that the laptops, camera and other items were never really missing.

She pleaded guilty today to two counts of second-degree theft.

Insurance: When a driver admits liability

Q: I was in a car accident and the other driver admitted that it was his fault. But his insurance company won't pay 100 percent. Why not?

A: Determining who is at fault for an accident depends on the facts as discovered during the investigation, not on just one driver's opinion. Even though one driver might be cited by police or admit fault, the issue of liability can only be determined after all the accident facts, weather, visibility, and all other driver actions and factors at the scene are taken into account.

It may sound hard to believe, but even if someone runs a stop sign and gets a ticket, the other driver could be found partially at fault for contributing to the accident by speeding, for example.

Note: This is one of a series of common -- or in some cases, particularly unusual -- questions received by our consumer advocacy staff, who answer questions from consumers.
Got a question or insurance problem of your own? If you live in Washington, feel free to give us a call, toll-free at 1-800-562-6900. We'll do our best to help. (And if you live in another state or territory, here's a handy map that lists the contact info for your local insurance regulatory office.)