$6.4M in Insurance Claims Recovered for Louisiana Consumers in 2012

Insurance Commissioner Jim Donelon announced that insurance policyholders across the state received an additional $6.4 million in payments during 2012 by requesting assistance from the Louisiana Department of Insurance (LDI).

The recovered funds result from insurance claims disputes in which the LDI worked with insurance companies and consumers to recover funds in addition to the original amounts offered to consumers by their insurance companies.

Funds recovered are from formal complaints regarding property and casualty, health, and life and annuities products. The LDI received nearly 5,000 consumer inquiries and more than 3,000 consumer complaints in 2012.

A formal complaint involves communication from a member of the public, in which that person expresses a grievance or problem. When a consumer contacts the department seeking information and does not express a grievance with a regulated entity, it is classified as an inquiry.

Information on inquiries, complaints and funds recaptured by insurance product is as follows:

Consumer Insurance Dispute Settlements (Jan. 1 – Dec. 31, 2012)

In total, over the course of 2011, the LDI assisted consumers in receiving more than $5.3 million in additional insurance payments stemming from consumer complaints.

Source: Louisiana Department of Insurance

Topics Claims Louisiana