Washington fines insurers for undisclosed rate changes

Six insurance companies have been targeted for fines by state insurance commissioner, Mike Kreidler. He has ordered the companies to pay a total of $534,000 after an investigation found that the companies frequently failed to document rate changes in their commercial policies only. The companies write business for personal and commercial risks and are subsidiaries of New Jersey company, Chubb & Son.  Companies cited: Federal Insurance Company Pacific Indemnity Company Great Northern Insurance Company Executive Risk Indemnity, Incorporated Last November, Kreidler threatened to suspend the companies for nine month, but the move was…

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