Bureau of Insurance → News Article
Insurance Bureau Helps Mainers Recover Nearly $1.6 Million From Insurance Companies in 2018
February 8, 2019
|Contact:||Eric A. Cioppa, Acting Superintendent|
According to Insurance Superintendent Eric Cioppa, the investigation of 668 complaints in 2018 by the Maine Bureau of Insurance resulted in $1,576,724 recovered on behalf of Maine residents. Additionally, $780,662 in life insurance benefits were found and matched to 123 Mainers through the Life Insurance Policy Locator service operated by the National Association of Insurance Commissioners (NAIC).
"A significant part of our mission and work involves assisting Mainers with their questions and concerns about insurance," Cioppa stated. "I hope that all Mainers will think to call the Bureau with their insurance questions and make use of the online tools and information provided by the Bureau and the NAIC."
The cases investigated by the Bureau involve a wide range of circumstances, ranging from complaints of improper billing, improper or delayed claims processing, improper denial of medical treatment, and illegal insurance sales practices.
"Not every complaint will result in the outcome a consumer is hoping for, but sometimes the insurance company, or a broker or agent has acted improperly, and we are here to make sure consumers in Maine are protected in these circumstances," Cioppa stated.
In 2018, the Consumer Health Care Division, which deals with health, life, long-term care, Medicare supplement, annuities and disability insurance, received 2,746 inquiries and 422 written complaints. The Property and Casualty Division, which deals with auto, homeowners and other types of property and liability insurance, handled 2,240 inquiries and 236 written complaints.
The NAIC's Life Policy Locator can be found under the "Consumer" tab at www.naic.org. Individuals who believe they are beneficiaries, executors or legal representatives of a deceased person may submit a search request form free of charge.
Consumers with questions about insurance matters can obtain information and assistance from the Maine Bureau of Insurance by visiting www.maine.gov/insurance, calling 800-300-5000 (TTY call Maine Relay 711), or e-mailing Insurance.PFR@maine.gov.
The Bureau of Insurance is part of the Department of Professional and Financial Regulation, which encourages sound ethical business practices through regulation of insurers, financial institutions, creditors, investment providers, and numerous professions and occupations for the purpose of protecting the citizens of Maine.
Last Updated: June 25, 2020 2:30 PM