Washington State Office of the Insurance Commissioner
help
Consumer tools
Agent and Company Lookup
Orders
Independent Review Decisions
Order 19-0615
Order Summary
RESCINDED BY AGREED STIPULATION ORDER NO 19-0524: Company fined $1,100,000 plus approximately $12,593,321 in premium tax; $2,518,663 in tax penalties; and $7,699,577 in interest for transacting insurance in Washington State without holding a certificate of authority, issuing unauthorized insurance to Washington insureds without having it placed through a licensed surplus line broker, and failing to timely remit a two percent (2%) premium tax to the state of Washington for insurance on risks or exposures located in Washington State, Olympic Casualty violated RCW 48.05.030(1); (certificate of authority required), RCW 48.15.020(1); (transaction of insurance by unauthorized insurer prohibited), RCW 48.14.020(1); (payment of two percent (2%) premium tax required), RCW 48.14.060; RCW 48.14.095(1)-(5); (failing to timely remit premium tax payment).
Entities Named in the Order
Entity Name
Location
Olympic Casualty Insurance Company (Unlicensed)
Colchester, VT
Order Documents
Order Type
Issue Date
Effective Date
Fine
12/17/2019
The order has been stayed pending an administrative hearing. Enforcement of the order is put on hold or “stayed” until the end of the hearing process. To find more information about hearings, visit our
administrative hearings
page.