Published September 09, 2008
Insurance regulation not 'disastrous' yet
Remember when the Legislature was debating whether to allow the Office of Insurance Commissioner to reject premium increases in the individual market? This two-minute TVW clip featuring LifeWise president Jeff Roe will refresh your memory.Insurance Commissioner Mike Kreidler won out in the session, and his office has the power to challenge rates in the individual market, authority the office lost in 2000, when that market froze. Since the law passed two more plans have entered the competition."We have improved the market in the state of Washington since we passed legislation that some lawmakers predicted would have a chilling affect. Weve actually picked up a couple," Kreidler says.Vindication for Kreidler and the Democrats? Maybe. Sen. Cheryl Pflug, R-Maple Valley, notes the bill was about reviewing increases, not recruiting companies."I don't see how something that was generally considered burdensome would have beneficial in bringing them into Washington," she said. "I guess his contention is it didnt make it worse."UPDATE: Read the full story here.