The Louisiana Department of Insurance (LDI) announced that in 2015 an additional $5.1 million in insurance claim payments was recovered on behalf of policyholders.
Insurance Commissioner Jim Donelon says these funds are the result of LDI staff working with company representatives to resolve complaints and are in addition to the original amounts offered to consumers by their insurance companies.
Funds recovered are from formal complaints regarding property and casualty, health, and life and annuities products. The LDI received 3,667 consumer complaints from January through December 2015.
Information on complaints and funds by insurance product is as follows:
Consumer Insurance Dispute Settlements (January 1 – December 31, 2015)
|Insurance Product||Complaints Filed||Funds Recovered|
|Life & Annuities||602||$2,505,520.25|
|Property & Casualty||1,757||$1,644,042.55|
In 2014 the LDI helped consumers recover $4,484,077.67 and there were just under 3,000 complaints filed.
Source: Louisiana Department of Insurance