“Connecticut Insurance Regulators Recouped $3.4 million For Consumers Last Year”

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Connecticut Insurance Regulators Recouped $3.4 million For Consumers Last Year Posted: 24 Jan 2011 09:15 AM PST Connecticut insurance regulators recouped $3.4 million for consumers as a direct result of handling complaints last year about health, auto, life, homeowner and other lines of insurance. The Connecticut Insurance Department's Consumer Affairs fields complaints from consumers who have a dispute with their insurance company. The department analyzes the results of handling those complaints each quarter. The state Office of the Healthcare Advocate also handles consumer complaints about health insurers. Separately, the state Insurance Department's Market Conduct division, which examines the equitable treatment of policyholders and claimants, collected $2.35 million from insurance companies in fines last year that were put into the state's general fund. "Consumers in Connecticut have a strong advocate in the department," said acting Commissioner Barbara C. Spear. "In these economic times when saving every dollar counts, consumers can depend on the department to hold companies accountable, sanction violators and help policyholders make their case when they have been treated unfairly."  The department's Market Conduct examiners check insurers' compliance with state laws, and the $2.35 million in fines is a penalty for violating those laws. The most frequent violations last were were unlicensed agents as well as claim and underwriting practices. The Consumer Affairs examiners received 7,125 inquiries and complaints last year and resolved 6,692 of those by the end of the year.  In 2009, the department recouped $3.2 million for consumers and charged insurers $2.1 million in fines. The report shows the number of complaints by company, and, generally, companies that wrote more in premium had more complaints. Here is the full report:  This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php Five Filters featured article: Collateral Damage - WikiLeaks In The Crosshairs.

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