Overview
What is Washington Insurance Examining Bureau?
The Washington Insurance Examining Bureau (WIEB) is a privately established, state-authorized organization, overseen by the Washington Office of the Insurance Commissioner. Operating independently from insurance producers and carriers, WIEB plays a crucial role in monitoring compliance with approved loss costs, rules, and forms in property insurance policies issued within Washington State. Their mission is to safeguard consumers' interests by ensuring adherence to established regulations, thereby promoting transparency and fairness in the insurance sector. With a small team of five dedicated professionals, WIEB serves as a vital watchdog, enhancing the integrity of the insurance market in Washington.
Official website here: www.wieb.com
Is Washington Insurance Examining Bureau legitimate?
Washington Insurance Examining Bureau is a legitimate nonprofit organization registered as a 501(c)(6) entity. Washington Insurance Examining Bureau submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $242,026
Professional Fundraising Fees: $0
Other Salaries and Wages: $275,185
For more financial information, click here
Official website here: www.wieb.com
What is the mission statement of Washington Insurance Examining Bureau?
The Washington Insurance Examining Bureau (WIEB) is tasked with ensuring that lawful loss costs, rules, and insurance forms are utilized in Washington property insurance policies. Operating as an independent entity licensed by the Washington Office of the Insurance Commissioner, WIEB checks the compliance of insurance policies with the approved rules and loss costs, acting on behalf of the consumers in the state of Washington. This organization serves to safeguard the interests of consumers by ensuring that insurance policies adhere to the regulations established by the Office of the Insurance Commissioner.
Official website here: www.wieb.com
Who is the CEO of Washington Insurance Examining Bureau?
Barbara Jo Hillyer is the Director of Washington Insurance Examining Bureau.
Official website here: www.wieb.com
What is the revenue of Washington Insurance Examining Bureau?
Washington Insurance Examining Bureau's revenue in 2022 was $993,967.
Official website here: www.wieb.com
Who are the executives of Washington Insurance Examining Bureau and what are their salaries?
The average compensation at Washington Insurance Examining Bureau during 2022 was $103,442. There are 5 employees at Washington Insurance Examining Bureau.
Here are 6 key members and their salaries:
- Compensation: $4,000
- Related: $372,605
- Other: $47,564
- Compensation: $0
- Related: $281,068
- Other: $17,020
- Compensation: $199,525
- Related: $0
- Other: $30,501
- Compensation: $0
- Related: $84,884
- Other: $19,371
- Compensation: $4,000
- Related: $50,000
- Other: $0
- Compensation: $4,000
- Related: $0
- Other: $0
Official website here: www.wieb.com
Where can I find the form 990 for Washington Insurance Examining Bureau?
Washington Insurance Examining Bureau's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wieb.com
Learn more at the official website: www.wieb.com
Mission Statement of Washington Insurance Examining Bureau
The Washington Insurance Examining Bureau, as a privately established organization, is licensed by the Washington Office of the Insurance Commissioner and operates with a distinct mission. Its primary objective is to ensure that the loss costs, rules, and forms utilized in Washington state's property insurance policies are lawful and in compliance with the regulations set forth by the Office of the Insurance Commissioner. By overseeing these aspects, the Washington Insurance Examining Bureau acts as a safeguard for consumers, ensuring that insurance policies adhere to the appropriate standards and regulations, thereby promoting transparency and fairness in the insurance market. The Bureau's independence from insurance producers and carriers allows it to act in the best interest of the consumers, ensuring their protection and peace of mind.
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Impact
October, 2024
The Washington Insurance Examining Bureau (WIEB) plays a crucial role in the regulation and oversight of property insurance policies in Washington. By ensuring that insurance policies adhere to lawful loss costs, rules, and forms approved by the Washington Office of the Insurance Commissioner, WIEB serves as a key safeguard for consumers.
WIEB's independent examination of insurance policies helps to ensure transparency and fairness in the insurance marketplace. It fosters a better understanding of insurance offerings, enabling consumers to make informed choices about their coverage. By operating independently of insurance producers and carriers, WIEB can objectively assess compliance and protect consumer interests. This oversight ultimately promotes trust in the insurance industry and contributes to a more stable and reliable insurance environment in Washington.
This information is meant to be a general summary of Washington Insurance Examining Bureau. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,574
- Program Service Revenue: $878,293
- Gross Receipts: $1,079,339
Assets and Liabilities:
- Total Assets: $1,662,813
- Total Liabilities: $0
- Net Assets: $1,662,813
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Assessments
Revenue
$878,293
Organization Details
Founding Year
1947
Phone
(206) 217-9432Principal Officer
Barbara Jo Hillyer
Main Address
PO Box 1188, Renton, WA, 980571188
Website
www.wieb.comNTEE Category
Code: Y20 - Mutual benefit
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