Delawareans would be able to evaluate insurance companies based on the number and kinds of valid complaints made against them by their customers under a new system proposed by Delaware Insurance Commissioner Matthew Denn.
Denn has proposed a regulation that would allow his office to classify complaints made by consumers about insurance companies operating in Delaware as “founded” or not. The number of valid complaints logged against each company, along with details about the complaint and what action was taken by the insurance commissioner’s office, would be made public. Personal information about the consumers making the complaint would not be made public.
The proposed regulation will be published in the August register of regulations and a public hearing will be held September 6. The regulation is scheduled to go into effect in October and complaint information will be made public starting in January.
“Since I took office, I have made protecting and informing the insurance consumers of Delaware my top priority,” said Denn, who was elected to office. “By allowing my office to keep track of the number and kind of complaints made against each company and found to be valid, we will make Delaware consumers more informed and more savvy when it comes to make insurance purchases.”
The new system will apply to companies that sell auto, home, life and health insurance. Denn said his agency receives an average of more than 800 complaints a month from consumers.
“If you can get reports about the quality of new cars and appliances, you should be able to evaluate the quality of service provided by your prospective insurance company,” Denn commented.
The announcement of the new consumer information service was attended by representatives of Common Cause of Delaware, the League of Women Voters and the Delaware Community Reinvestment Action Council.
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