Washington Insurance coverage Commissioner Mike Kreidler issued a knowledge name of 124 auto insurance coverage corporations for latest rebates given to policyholders through the COVID-19 pandemic.
Kreidler is requesting claims knowledge for personal passenger auto claims from 2016 to 2020 and the way the insurers utilized any COVID-19-related refunds in 2020. Responses are due July 30.
“I wish to see what premiums customers paid through the pandemic and the businesses’ claims prices,” Kreidler stated in an announcement. “We all know that folks drove much less and had fewer accidents. If this resulted in fewer claims, then insurers want to take a look at the charges they charged. In the event that they’re extreme, they need to make it as much as their policyholders.”
He urged insurers to concern rebates in April 2020 resulting from decreased driving through the pandemic.
Insurers responded to an analogous knowledge name in California earlier this yr, leading to a report from the California Division of Insurance coverage displaying that insurers overcharged drivers regardless of fewer accidents and claims through the pandemic. In response, California Insurance coverage Commissioner Ricardo Lara ordered further premium rebates for policyholders.
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