Delaware Regulators Recover $1.4M for Consumers in 1st Half of 2014

The Delaware Department of Insurance reported that regulators recovered more than $1.4 million for consumers in the first six months of 2014.

This amount represents an increase of 49.57 percent in funds recovered for Delaware consumers compared to the same period last year. The department’s Consumer Services Division has recovered $604,255 for Delaware policyholders and handled 2,700 formal complaints and inquiries. Of those 2700 cases that were opened, 2534 were closed by June 30, 2014.

The department said its Market Conduct Division has returned $425,000 back to consumers as a result of exams and investigations in the first half of this year. Arbitration actions also resulted in $378,208 recovered for consumers as a result of hearings requested by, or on the behalf of, the consumer and facilitated by the Department of Insurance.

“This number represents an increase in recoveries for Delaware policyholders of about 50 percent compared to the first half of 2013,” said Delaware Insurance Commissioner Karen Weldin Stewart. “I would especially like to applaud the staff here at the Department of Insurance who work with the public to help them understand their rights, responsibilities and options as consumers.”

Topics Delaware