Louisiana Insurance Commissioner Jim Donelon announced that the Department of Insurance helped Louisiana insurance consumers to recover $8.2 million in insurance payments last year.
The recovered funds result from insurance claims disputes mediated by the department. The payouts are 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.
Recoveries from property/casualty complaints represented the bulk of the total amount returned to consumers. The overall amount recovered from P/C companies was $5,366,121.44, from 2,707 inquiries and 2,236 filed complaints.
Settlements from health insurance complaints brought in nearly $1.6 million.
The rest of the money came from inquiries and complaints to the life/annuities division and the Office of Consumer Advocacy.
Source: Louisiana Department of Insurance,
Topics Louisiana Property Casualty
Was this article valuable?
Here are more articles you may enjoy.
Mamdani Delivers Rent Freeze in Milestone for New York City Tenants 
Florida-Based Safepoint Withdraws IPO Just as it Was Expected to Launch 
Bayer’s Supreme Court Win in Roundup Case No ‘Silver Bullet’ 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
