State Clamps Down On Troubled Insurer

Wed., June 19, 1996

From Staff And Wire Reports

A Lewiston, Idaho-based insurance company has been ordered to stop selling policies in Washington state.

The Universe Life Insurance Co. was ordered into financial rehabilitation in Idaho earlier this month, according to Washington Insurance Commissioner Deborah Senn.

On Monday, Senn banned the company from issuing new policies in Washington.

Universe Life wrote more than $45,000 in life and annuity premiums in Washington last year, and reported more than $181,000 in group health premiums over the same period.

“People who already hold Universe Life annuities, life insurance or guaranteed renewable policies should continue to pay their premiums for now, and we will closely monitor any other developments with this carrier,” Senn said in a statement.

Consumers with questions about the carrier or the decision should call the commissioner’s hot line at 1 800 562 6900.

, DataTimes

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State Clamps Down On Troubled Insurer

Jesse Tinsley

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