Louisiana Insurance Department Recovers More than $9.6M in 2010

Feb 14th, 2011 | By Hot News Reporter | Category: Insurance Today

Louisiana Insurance Commissioner Jim Donelon announced that the Louisiana Department of Insurance (LDI) aided Louisiana insurance consumers in receiving more than $9.6 million in insurance payments from consumer complaints last year. This is an additional $1.4 million over the amount of funds recovered in 2009.

The largest amount – more than $6 million – was recovered from property and casualty insurers.

The recovered funds result from insurance claims disputes in which LDI was able to work with insurance companies and consumers to recover monies above what the insurance companies originally offered the consumers to settle their claims. Funds recovered are from formal complaints regarding property and casualty, health insurance, life and annuities, and consumer advocacy claims. 

Information on inquiries, complaints and funds recaptured by each office is as follows:

2010 Consumer Insurance Dispute Settlements  Inquiries  Complaints Filed  Funds Recovered
Office of Property & Casualty 4,596 1967 $6,076,864.58
Office of Health 592 1,310 $1,440,147.46
Division of Life and Annuities 7,836 456 $2,060,429.00
Office of Consumer Advocacy 74 21 $51,852.25
Total 13,098 3754 $9,629,293.10

Consumers who feel they are not being paid what they should for losses as stated in their insurance policies can contact LDI and request assistance and/or file a formal complaint. Department examiners review complaints from policyholders and determine if the insurance company has honored the insurance policy and paid the consumer what they are due per the provisions of their policy.

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