Industry IQ: NAIC: Delays, denials rankle insurance consumers

The top three reasons consumers filed formal complaints against their insurers in 2008 were delays, denials of claims and unsatisfactory settlement offers, followed by premium/insurance rating and policy cancellation issues, according to a study by the NAIC.

Data was based on the more than 195,000 confirmed complaints for 2008, collected through NAIC's electronic Complaint Database System (CDS), through which states voluntarily report “closed” complaints. A closed complaint is a complaint that has been investigated and resolved to the satisfaction of the state or jurisdiction in which it is filed.
NAIC also posts monthly trend reports on complaints by reason and type of insurance, as well as by how the complaints were resolved. For more information, visit https://eapps.naic.org/cis.