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2008: Year of Insurance Complaints

Submitted by Anonymous on Mar 20th, 2009

The National Association of Insurance Commissioners (NAIC) recently released statistics regarding customer complaints against insurance companies and agencies.

The stats are unsettling ? yet predictable. In 2008, a whopping 195,669 confirmed complaints were lodged against insurance companies.

The reasons? Delays in service (19%), denials of claims (19%), unsatisfactory settlements (14%), premiums and ratings (5%), and cancellation of policies (4%) rounded out the top five.

Who saw the most complaints? Health insurance and car insurance made up nearly 80% of complaints. But who’s surprised ? the two types of insurance are the most essential, and in some states, they’re actually required.

Wouldn’t it be nice to live in a world where a claim for health insurance wouldn’t be denied, or an insurance settlement for your car was actually fair and covered the costs of an accident?

Have you been on this end of things? Contact us, tell us about it. Maybe we?ll start up a new blog focusing solely on the dumb, unfair, and otherwise egregious things insurance companies attempt to pull on their customers.