The state Insurance Department said Thursday it recouped $1.3 million on behalf of policyholders and collected $902,000 in fines against insurers during the first three months of the year.
The department’s Consumer Affairs Unit handled more than 1,800 complaints and inquiries from consumers who had unresolved problems with their insurance coverage from January through March. Most of the funds recovered for policyholders were related to health insurance, followed by homeowners’ and farmers’ coverage, life and annuities, automobile and other coverage.
The department’s Market Conduct division fined insurers $902,000 during the first quarter of the year, which is money put into the state’s General Fund. Fines were a result of problems such as untimely claim payments and improper licensing of an insurance company.
“The department regularly helps hundreds of policyholders each year settle disputed claims, have their policies reinstated or gain a better understanding of their coverage,” said Insurance Commissioner Thomas B. Leonardi, head of the department. “As we head into the Atlantic hurricane season, it is extremely important that homeowners know exactly what their policy covers and the department’s Consumer Affairs Unit is a free resource they can use to help determine that.”