Washington (WA) Annuity Information
The Washington (WA) state Office of the Insurance Commissioner
The Washington (WA) State Office of the Insurance Commissioner’s main role is to protect insurance consumers as well as oversee and regulate the insurance industry. It is their responsibility to make sure insurance companies follow the rules and people get the coverage they've paid for.
Each year they answer questions and investigate problems for nearly 100,000 people and maintain a statewide network of volunteers who advise consumers on health-coverage issues.
The Office of the Insurance Commissioner oversees Washington state's insurance industry to protect consumers and make sure that companies, agents and brokers follow the rules.
With 235 employees and over 400 dedicated volunteers, they are one of the smaller state agencies, but still manage to cover a lot of ground:
- Hold down costs to consumers by reviewing insurers' proposed rates.
- Answer questions and investigating problems from more than 100,000 consumers a year.
- Recovering millions of dollars a year for consumers with insurance disputes or delays.
- Licensing and auditing the 48 insurers based in Washington -- and monitoring the other 2,137 that do business here.
- Testing, licensing and monitoring the more than 138,000 individuals and businesses that sell insurance here.
- Collecting about $970 million a biennium for the state’s general operating budget.
- Maintaining a statewide network of volunteers who advise thousands of consumers on health care issues.
All this is done with virtually no state general-fund dollars. Most of theirr budget comes from assessments charged to the insurers they regulate.
Mike Kreidler is Washington’s eighth insurance commissioner. A former member of Congress, he was first elected as insurance commissioner in 2000. He was re-elected to a fourth term in 2012.
A doctor of optometry with a master's degree in public health, Kreidler practiced at Group Health Cooperative in Olympia for 20 years, with 16 of them shared with the Washington State Legislature. He served as a member of the Northwest Power Planning Council and as regional director for the U.S. Department of Health and Human Services.
He retired as a lieutenant colonel from the Army Reserves with 20 years of service.
He is a staunch advocate for consumer protection and as a fair and balanced regulator. He was honored in 2009 with the "Excellence in Consumer Advocacy Award," presented by consumer advisors to the National Association of Insurance Commissioners.
Washington Annuity Resources: The Office of the Insurance Commissioner has a staff of consumer advocacy experts dedicated to helping consumers understand thei insurance rights and answer questions for all types of insurance, including annuities.
|State Commissioner:||Mike Kreidler|
|Annuity Guarantee Limit:||$500,000|
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