More than $1 million was recovered on behalf of consumers by the Connecticut Insurance Department’s Consumer Affairs Division during the second quarter, according to Insurance Commissioner Thomas R. Sullivan.
The bulk of consumer complaints are associated with accident and health insurance products, according to the department. Consequently, $440,591.57, or almost 43 percent of all dollars recovered from the industry, can be attributed to these product lines.
Life insurance and annuities products have fewer complaints yet represent 38 percent, or $394,886.53, of the recovery dollars.
The remaining 19 percent was collected from auto, homeowners, fire and general liability insurance products.
Complaints are made in five categories; Marketing/Sales, Premium/Rating, Underwriting, Unfair Claim Practice and Other. In the second quarter, 55 percent of claims were attributed to unfair claim practices, while marketing, premium and underwriting categories captured only single-digit percentages.
“Consumers can come to the Insurance Department and know we will work hard on their behalf,” said Sullivan.
Source: Connecticut Insurance Department Consumer Affairs
http://www.ct.gov/cid/taxonomy/ct_taxonomy.asp?DLN=46322&cidNav=|46322|
Topics Property Casualty Connecticut
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise 
NAIC Victim of Cyber Incident Via PeopleSoft System 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
