Connecticut Insurance Dept Recovers $630K for Policyholders

The Connecticut Insurance Dept said it has recovered $630,000 on behalf of policyholders from complaints resolved in the second quarter of this year.

Department staff received 1,372 new complaints and inquiries in the second quarter, down slightly from near 1,500 received in the first quarter. Not all inquires or complaints submitted to the insurance department are subject to recovery.

This past quarter 55 percent, or $348,000 of the recovered funds came from complaints related to accident and health product lines, while 17 percent, or $106,000 came from property and casualty product lines

Of all incoming complaints, accident and health product lines topped the list with 44 percent. Auto followed with 31 percent, homeowners and farmers had 13 percent, and life and annuities, general liability, and fire insurance account for the remaining 12 percent.

Almost 40 percent of complaints were attributed to unfair claims practices. Marketing/sales and premium/rating each received 8 percent of the total complaints.

“With the Department’s assistance, consumers are getting the help they deserve,” said Commissioner Thomas R. Sullivan.

Source: Connecticut Insurance Dept.