Department of Insurance Recovers Nearly $1 Million for Delaware Consumers through June 2015
Businesses Also Saved Almost $4 Million in Workers Comp Premiums
DOVER, DE – Insurance Commissioner Karen Weldin Stewart and the Delaware Department of Insurance announced today that its Consumer Services Division has recovered $995,558.73 for consumers during the first six months of 2015. Delaware employers have also saved approximately $3,978,296.00 in workers compensation premiums during the same period through the Department’s Workplace Safety Program.
The Consumer Services Division received 2,345 formal insurance coverage complaints and inquiries regarding automobile, homeowner’s and health policies between January 1 and June 30, and directly recovered $543,052.39 from insurers on Delaware policyholders’ behalf. The Division also conducted arbitration hearings requested by or on behalf of policyholders, which netted consumers $452,506.34 in arbitration awards.
“Our Consumer Services Division staff continues to fight for Delaware consumers,” said Stewart. “We want people to know about their rights and options when dealing with insurance companies. Policyholders can always turn to us for free and unbiased assistance with their insurance questions.”
Commissioner Stewart is also happy that the Workplace Safety Program continues to save workers compensation costs for Delaware businesses. “I know insurance premiums are a significant part of the cost of operating a business, big or small. This program is great because it benefits employers and employees.”
The Workplace Safety Program incentivizes employers to establish and maintain safe workplaces. The program provides businesses with the opportunity to earn discounts of up to 19 percent on their workers’ compensation insurance premiums by meeting certain safety requirements and agreeing to undergo periodic inspections. The $3,978,296.00 savings figure, provided by the Delaware Compensation Ratings Bureau, is approximate because businesses may pay their workers compensation insurance premium annually, quarterly, or by some other schedule.
For help with general insurance matters, call the Department at (302) 674-7300. Call (800) 282-8611 for Consumer Services. For more information on the Workplace Safety Program call (302) 674-7377.Go to our website at www.delawareinsurance.gov, and visit our Facebook page, www.facebook.com/DelawareInsurance. Follow us on Twitter @Delaware_DOI.
For immediate release.
Media Inquiries? Contact: Jerry Grant @ 302-674-7303
Delaware Dept. of Insurance: www.delawareinsurance.gov | 302-674-7300
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