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OLYMPIA, Wash. ? Insurance Commissioner Mike Kreidler?petitioned the Thurston County Superior Court on Monday?to declare his?cease-and-desist order?against Senior Health Insurance Company of Pennsylvania (SHIP) valid. The order requires SHIP, an insolvent company that sold long-term care insurance policies, to not enforce any premium increases to Washington consumers due to the misleading coverage election packages it mailed in March 2022.?
In addition to misrepresenting benefits, SHIP?s election packages did not accurately reflect the company?s financial condition, which violated state law.
?As Washington?s insurance regulator, it?s my duty to look out for policyholders in our state,? Kreidler said. ?SHIP is in dire financial straits and offered people benefit options they simply cannot deliver. I?ll request the Washington courts declare the order to cease and desist against the company valid, to stop the implementation of decisions consumers made based on misleading information the company provided.?
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