Delaware Regulators Recovered $1.3M for Policyholders in 2012 Q1

Delaware’s Insurance Commissioner Karen Weldin Stewart said her department recovered $1,331,831 for the state’s policyholders during 2012 first quarter.

Commissioner Stewart announced the first-quarter’s recovery amount last week. The breakdown of funds recovered in the first quarter is as follows:

• The consumer services division recovered $720,597 for Delaware policyholders and handled 2,055 formal complaints and inquiries which represents an increase from 1,174 during the first quarter of 2011. Regulators said health insurance continues to generate the most complaints from consumers, followed by auto and homeowners insurance. Among the most common reasons for complaints were denial of claims and claim delays.

• The department’s market conduct division has returned $198,357 to consumers as a result of exams and investigations in the first quarter.

• Arbitration actions also resulted in $412,877 in funds that were recovered for Delaware consumers as a result of hearings requested by or on the behalf of the consumer and facilitated by the Department of Insurance.

In 2011, Delaware’s Department of Insurance had recovered $3,734,133 for the state’s consumers, Commissioner Stewart said.

“The mission of the Department of Insurance states that we put the consumer first. Last year’s recovery numbers — combined with this year’s first quarter numbers — demonstrate our commitment to this effort,” the commissioner said. “We urge consumers to contact our office to gain a better understanding of the claims process and their policies.”