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office of the insurance commissioner mike kreidler

       
New premium change transparency rule starts June 1
 

 

"Media contact: Public Affairs, (360) 725-7055"

OLYMPIA, Wash. — As of June 1, 2024, insurance companies will have to let their policyholders know why their premiums have gone up. 

Washington state Insurance Commissioner Mike Kreidler’s new rule requires insurers to provide an answer on why premiums have gone up — and in 2027, they’ll have to provide that information automatically when a policy renews. 

“If your insurance company is going to increase your premium, you have a right to know why,” Kreidler said. “Hundreds of consumers, every year, have told us they are unable to get a clear answer from their insurance company about why they’re being charged more. This is pretty basic information that should be available, and now it will be.”

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