July 27, 2018
Missouri Insurance Department Returns Over $8 Million to Consumers in First Half of 2018
Missouri consumers benefit from department’s regulatory efforts
Jefferson City, Mo – The Missouri Department of Insurance helped return over $8 Million dollars to consumers in the first half of 2018. The Divisions of Consumer Affairs and Market Conduct were responsible for actions which put money back into the pockets of Missourians.
The Consumer Affairs Division collected $4.4 million in additional claim payments to consumers who filed complaints against their insurance companies.
“Our consumer affairs team stands ready to assist Missourians if they have questions about their insurance policies or if they reach an impasse with their insurer,” said Chlora Lindley-Myers, Director of the Missouri Insurance Department. “Our team is trained to investigate and mediate all types of insurance issues.”
Health insurance generated the most complaints in the first half of 2018 with 637 formal complaints, followed by agent investigations with 373. Missourians complained most about claim denials and claim delays.
The department’s consumer complaint team also answered nearly 7,000 phone calls, handled 1,250 inquiries and assisted with 1,700 complaints in the first half of the year from consumers across the Show-Me State.
In addition, our Market Conduct Division collected over $4 Million in through actions levied against insurance companies for violations of Missouri statute or regulations.
Missourians with questions or complaints about their insurance agent or company are encouraged to 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.