Louisiana Recovers $4M in Additional Insurance Payments in First Half 2013

Louisiana insurance policyholders received an additional $4 million in insurance payments in the first half of 2013 as a result of assistance from the Louisiana Department of Insurance (LDI). Insurance Commissioner Jim Donelon says these funds are in addition to the original amounts offered to consumers by their insurance companies and are the result of LDI staff working with insurance companies to resolve complaints.

Funds recovered are from formal complaints regarding property and casualty, health, and life and annuities products.

The LDI received more than 2,000 consumer inquiries and more than 1,500 consumer complaints from January through June 2013. A formal complaint involves communication from a member of the public, in which that person expresses a grievance or problem. When a consumer contacts the department seeking information and does not express a grievance with a regulated entity, it is classified as an inquiry.

Information on inquiries, complaints and funds recaptured by insurance product is as follows:

Consumer Insurance Dispute Settlements (January 1 – June 30, 2013)

This amount is up from the first half of 2012, when the LDI assisted consumers in receiving more than $2.6 million in additional insurance payments stemming from consumer complaints.

For year-end 2012, insurance policyholders received an additional $6.4 million in payments by requesting assistance from the Louisiana Department of Insurance.

Source: Louisiana Department of Insurance

Topics Louisiana