Delaware News

Insurance Department Recovers $1.3 Million for Policyholders in 1st Quarter of 2012

Insurance Commissioner | Date Posted: Wednesday, May 23, 2012



Dover – Insurance Commissioner Stewart and the Delaware Department of Insurance report that $1,331,831.74 has been recovered for consumers in the first quarter of 2012. The Consumer Services Division has recovered $720,597.39 for Delaware policyholders and handled 2,055 formal complaints and inquiries which is an increase from 1,174 during the first quarter of 2011. The breakdown of funds recovered in the first quarter is:

  • Consumer Services – $720,597.39
  • Market Conduct Examinations and Investigations – $198,357.20
  • Arbitration Hearings – $412,877.15

Health insurance continues to generate the most complaints from consumers, followed by auto and homeowners insurance. Among the most common reasons for complaints were denial of claims and claim delays.

The Department’s Market Conduct Division has returned $198,357.20 to consumers as a result of exams and investigations in the first quarter. Arbitration actions also resulted in nearly $412,877.15 in funds that were recovered for Delaware consumers as a result of hearings requested by or on the behalf of the consumer and facilitated by the Department of Insurance.

Commissioner Stewart stated that, “In 2011, the Department of Insurance was able to recover $3,734,133.72 for Delaware consumers. The mission of the Department of Insurance states that we put the Consumer first. Last year’s recovery numbers combined with this year’s first quarter numbers demonstrate our commitment to this effort. We urge consumers to contact our office to gain a better understanding of the claims process and their policies.” For help with all insurance matters, call our office at 302-674-7300 or 302-674-7310 for Consumer Services. Also, visit our website www.delawareinsurance.gov, and follow the Department on Facebook at Delaware Department of Insurance.

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Insurance Department Recovers $1.3 Million for Policyholders in 1st Quarter of 2012

Insurance Commissioner | Date Posted: Wednesday, May 23, 2012



Dover – Insurance Commissioner Stewart and the Delaware Department of Insurance report that $1,331,831.74 has been recovered for consumers in the first quarter of 2012. The Consumer Services Division has recovered $720,597.39 for Delaware policyholders and handled 2,055 formal complaints and inquiries which is an increase from 1,174 during the first quarter of 2011. The breakdown of funds recovered in the first quarter is:

  • Consumer Services – $720,597.39
  • Market Conduct Examinations and Investigations – $198,357.20
  • Arbitration Hearings – $412,877.15

Health insurance continues to generate the most complaints from consumers, followed by auto and homeowners insurance. Among the most common reasons for complaints were denial of claims and claim delays.

The Department’s Market Conduct Division has returned $198,357.20 to consumers as a result of exams and investigations in the first quarter. Arbitration actions also resulted in nearly $412,877.15 in funds that were recovered for Delaware consumers as a result of hearings requested by or on the behalf of the consumer and facilitated by the Department of Insurance.

Commissioner Stewart stated that, “In 2011, the Department of Insurance was able to recover $3,734,133.72 for Delaware consumers. The mission of the Department of Insurance states that we put the Consumer first. Last year’s recovery numbers combined with this year’s first quarter numbers demonstrate our commitment to this effort. We urge consumers to contact our office to gain a better understanding of the claims process and their policies.” For help with all insurance matters, call our office at 302-674-7300 or 302-674-7310 for Consumer Services. Also, visit our website www.delawareinsurance.gov, and follow the Department on Facebook at Delaware Department of Insurance.

image_printPrint

Related Topics:  


Graphic that represents delaware news on a mobile phone

Keep up to date by receiving a daily digest email, around noon, of current news release posts from state agencies on news.delaware.gov.

Here you can subscribe to future news updates.