Missouri, Kansas and Michigan collectively recovered nearly $39 million from insurance companies on behalf of consumers in 2009. Recoveries are funds returned to policyholders through settlement of claims disputes with insurers, based on inquiries and formal complaints.
The Missouri Department of Insurance says the $14.4 million it returned to consumers in 2009 is the most it has ever recovered in one year, and is $2 million more than that recovered in 2008.
The Kansas Insurance Department recovered a little more than $15 million through dispute resolution in 2009. It was the second time in three years the department has topped the $15 million figure. The $15,033,290.41 recovered in 2009 is just short of the record $15.1 million recovered in 2007.
Michigan regulators recovered a record $33 million for financial services and insurance customers in 2009, nearly $9.3 million of that was from insurance and securities recoveries. Insurance Commissioner Ken Ross said the previous record set by the agency in 2008 was $17 million.
The most common reasons for complaints are denial of claims, claims delays, and unsatisfactory offers in health, auto and homeowners lines of insurance.
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