Insurance News

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May 23, 2014

Department of Insurance returns nearly $5 million to Missouri consumers in first quarter of 2014

Consumer Affairs Division helps more than 7,000 Missourians in first quarter

Jefferson City, Mo - The Missouri Department of Insurance helped consumers who filed a complaint against their insurance company receive an additional $4.7 million in claim payments in the first quarter of 2014.

"The Consumer Affairs Division stands ready to assist Missourians who reach an impasse with their insurance company," said John M. Huff, director of the Missouri Department of Insurance. "Consumers are encouraged to call us when a claim has been unfairly denied or when they feel their settlement is inadequate. Our team is trained to investigate all types of insurance issues."

Health insurance generated the most complaints in the first quarter of 2014 with 437 formal complaints followed by auto with 199 formal complaints. Consumers filed the most complaints for denial of claims and delays in processing.

Some notable accomplishments form the first quarter:

In the first quarter of 2014 the department answered 7,120 phone calls, handled 2,544 inquiries and assisted with 1,077 complaints.

The top categories of complaints were:

 

Complaints by reason

Complaints by line of insurance

Denial of claim (248)

Health (437)

Delay of claim processing (238)

Auto (199)

Delays or No Response (98)

Life & Annuities (135)

Unsatisfactory offer (93)

Homeowners (123)

 

 

 

 

 

In addition to individual consumer recoveries, agent investigations levied 37 fines and collected over $16,000 in the first quarter.

Consumer with complaints or questions about their insurance agent or company can call the department's Insurance Consumer Hotline at 800-726-7390 or visit insurance.mo.gov.

About the Missouri Department of Insurance, Financial Institutions & Professional Registration

The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.

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