Mo. Consumer Affairs Division Recovers $12 Million from Companies

The Missouri Consumer Affairs Division of the Missouri Department of Insurance, Financial Institutions & Professional Registration recovered over $12 million from insurance companies in 2006. Preliminary figures also indicate over 4,300 complaints were received by the division with an additional 3,500 inquiries logged, according to the Department’s statement.

Through informal resolution, the division assists consumers with concerns about sales practices, claims and settlement amounts for all lines of insurance. Complaints are filed by calling the hotline or by visiting the division’s Web site at http://www.insurance.mo.gov/consumer/index.htm.

Top five complaints in 2006 were:

Improper denial of claim, 959;
Unsatisfactory settlement/offer, 888;
Delay in response, 588;
Improper claims handling, 266; and,
Unsatisfactory explanation of coverage, 202.

Number of complaints by line of insurance were:

Individual Private Passenger (Auto), 1,079;
Group Accident and Health, 665;
Individual Accident and Health, 590;
Homeowners, 590; and,
Title,264.

Source: Missouri Department of Insurance, Financial Institutions & Professional Registration

Topics Missouri