LIFE INSURANCE 2018

Washington state has experienced heavy rainfall this year, increasing our risk for floods, landslides and mudslides this spring. Governor Inslee proclaimed a state of emergency in nearly two dozen counties on both sides of the state, where there have been storms, slides and floods in the past two months. A 20 million-pound rock slab came loose from a hillside along SR 503 east of Woodland, causing a slide that closed the highway on March 13. Photo courtesy of WSDOT. While the above- average snowpack from this winter is good for the upcoming wildfire season, it could mean an increased risk of flooding in low-lying areas, and areas with slopes may experience increased soil instability. The risk is higher in areas that were hit hard by past summers’ wildland fires, leaving less trees and vegetation to stop land movement. Damage to your home from floods, landslides, and mudslides may not be covered under a standard homeowner’s policy. Review your insurance policy to make sure you have the ...

Having a teen driver in the household can be an exciting and also stressful time. Educating yourself and your teen driver about the risks and insurance implications of unsafe driving can save lives and money. Setting expectations Research suggests teen accident risk is cut in half when parents and teens set ground rules for driving. Talk openly about your expectations for behind-the-wheel behavior. Agree on a teen driving contract that clearly defines the rules and consequences associated with driving privileges.  Set a driving curfew. More than 40 percent of teen auto deaths occur between the 9 p.m. and 6 a.m. In Washington state, teen drivers are not allowed on the road between 1 a.m. and 5 a.m. the first 12 months they are licensed.  Limit the number of passengers. Washington state limits who can ride with new drivers for the first six months they are licensed.  Make all cell phone use off-limits while driving. In 2015, distracted driving accounted for 30 percent of...

Since November 2016, 53 Washington residents have recovered $366,000 in life insurance policies and annuities that they didn't know existed or were unable to locate. The National Association of Insurance Commissioners created on online Life Insurance Policy Locator  to help consumers search for old policies and benefits. The free service makes the process simpler overall. The service encrypts your request to keep personal details confidential. Insurers taking part compare requests with available policyholder information. They report all matches to state insurance departments and then contact beneficiaries or their authorized representatives. Since its beginning last November, people have submitted more than 600 requests in Washington state alone, ranking among the top 10 states with queries. Texas, California and Florida lead the pack in recoveries – each with more than $2 million returned to consumers. Since 2010, state insurance regulators have investigated unclaimed life insuran...

SHIBA volunteers attend an outreach event in 2016.  In honor of National Volunteer Month, we’re recognizing the more than 400 people who passionately volunteer their time to our Statewide Health Insurance Benefits Advisors (SHIBA) program. SHIBA's outstanding volunteer advisors are an integral part of the consumer protection work we do here at the Office of the InsuranceCommissioner . During 2016, SHIBA volunteers: Assisted more than 88,000 Medicare beneficiaries, their families and caregivers with one-on-one counseling in person and over the phone to help them:  Evaluate their insurance needs.  Choose a Medicare plan.  Choose a Medicare supplement plan.  Review long-term care insurance policies.  Apply for subsidies to help pay for prescription drugs and Medicare Savings Plans to help pay Medicare Part A and B premiums, copays and deductibles.  Educated more than 105,000 people about Medicare.  Held more than 3,300 outreach events statewide....