Maryland Insurance Administration Recovers $11.7M in Claims Settlements in 2017

February 15, 2018

The Maryland Insurance Administration (MIA) responded to 12,188 consumer complaints and inquiries in 2017, facilitating claims settlements and refunds totaling $11,766,213 for Maryland consumers, according to a press release issued by the administration.

While the Insurance Administration cannot actually settle the claims, agency employees work to explain the claims process and investigate to help correct improprieties, according to the release.

In addition to helping consumers recover money through the complaint investigation and fraud processes, the Insurance Administration also conducts examinations of insurance companies to ensure compliance with Maryland insurance laws.

If the agency finds an insurer failed to pay claims properly, the MIA can order restitution payments, including interest. In 2017, Insurance Administration exams resulted in $7,085,445 in consumer restitution and an additional $2,110,499 in administrative penalties on insurers, which were remitted to the State’s General Fund.

Consumers can file complaints with the Insurance Administration about any type of insurance, but most complaints relate to automobile insurance, homeowners insurance and health insurance, the release said.

The Insurance Administration Consumer Education and Advocacy Unit also provides free insurance-related information and guidance to consumers throughout the state and offers a variety of consumer publications on the agency website.

To file a complaint concerning a property and casualty insurer, life and health insurer or producer – including any licensed insurance professional or authorized insurance assistance personnel – or to report fraudulent insurance-related activity, consumers can contact the Property & Casualty Insurance Complaints Department, Life & Health Insurance Complaints Department, Producer Complaints Department or Insurance Fraud Tip Line at the Maryland Insurance Administration.

Source: Maryland Insurance Administration

Topics Claims Maryland

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