Ga. Insurance Regulators Recover $4 Million in First Half of 2012

Georgia regulators recently released their recovery figures for the first half of 2012, saying that a little over $4 million was returned from policyholders’ claim disputes with insurers.

The recovered funds stem from 4,100 cases that state consumers brought to regulators, according to Glenn Allen, spokesman for commissioner Ralph T. Hudgens. A current breakdown between disputes over auto, life and homeowners claims was unavailable.

Earlier this year, state officials reported that Hudgens’ Consumer Services Division (CSD) recovered $10.6 million from 42,000 cases in all of 2011.

The role of state regulators is to resolve such disputes and provide advice to policyholders. They also serve as consumer advocates ensuring that coverage providers abide by state laws, including how those companies hike rates and provide mandated car insurance discounts.

“We’re here to serve the consumers in our state—that’s what our tax dollars are for,” Allen said. “If they have questions, have a dispute or are in negotiations with an insurer and need our assistance, that’s what we’re here for.”

According to the National Association of Insurance Commissioners, most complaints from consumers are related to claim denials and delays in claim payments.

Georgia consumers in need of regulators’ services can call the CSD at 404-656-2070 or toll-free at 1-800-656-2298 or visit its website.

Regulators Elsewhere Report Recovery Statistics

Connecticut regulators recently reported their recovery numbers for the second quarter of 2012, which amounted to a total of more than $4 million reclaimed so far this year, including fines charged to insurers.

In the second quarter, the size of auto-related resolutions totaled almost $95,000 and came in third, behind health- and homeowners-related disputes.

First-quarter recoveries were announced in Pennsylvania, Missouri, Montana and Delaware, where regulators recouped $3.4 million, $2.2 million, $2.4 million and $1.3 million, respectively.

About John Pirro
John Pirro is a licensed fire and casualty insurance agent specializing in various aspects of the auto insurance industry. He worked in the auto body repair industry before taking a reporting position at Online Auto Insurance News.

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