Insurance News

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February 28, 2014

Missouri Department of Insurance assists consumers in recovering $16.1 million from their insurance companies in 2013

Recoveries grow by $5.1 million in 2013

Jefferson City, Mo. - The Missouri Department of Insurance returned $16.1 million to consumers in 2013 after they filed a complaint against their insurance company. It is the second-highest recovery on record.

"Our department strives to hold insurers accountable for what they promise consumers in their policies," said Missouri Insurance Director John M. Huff. "Returning more than $16 million in 2013 demonstrates our commitment to protecting Missourians."

Record recoveries were recorded in 2011 when several natural disasters struck, including the Joplin tornado. The second-highest amount the department returned to consumers in a non-natural disaster year was $14.9 million in 2009.  

In 2013, the department obtained 1,017 additional insurance payments for consumers. Notable recoveries include:

The department fielded more than 3,700 formal complaints, answered more than 20,800 calls and handled 9,052 inquiries in 2013. Health insurance generated the most complaints with 916 complaints. The top complaints by reason and type of insurance were:

 

Complaints by reason

Complaints by line of insurance

Denial of claim (894)

Health (916)

Delay of claim processing (689)

Auto (810)

Unsatisfactory offer (433)

Homeowners (569)

Consumers with complaints or questions about their insurance claim or policy provisions are encouraged to call the Insurance Consumer Hotline at 800-726-7390 or file a complaint at 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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