January 16, 2015
Maine Insurance Superintendent Eric Cioppa announced today that the Bureau of Insurance recovered nearly $3.4 million on behalf of Maine consumers and businesses in 2014. More than $2.4 million was recovered for consumers by the Bureau’s Consumer Health Care Division, and nearly $1 million was recovered by the Property and Casualty Division.
“The Bureau exists to regulate and support the insurance industry, as well as to assist individuals and businesses with insurance concerns,” said Governor Paul R. LePage. “These recoveries usually represent claims submitted by Mainers that for a variety of reasons were denied or delayed. Insured individuals are able to contact the Bureau of Insurance with questions and to seek assistance to resolve their insurance-related issues.”
In 2014, the Bureau fielded more than 8,000 inquiries and nearly 900 complaints. The Property and Casualty Division, which includes auto and homeowners insurance, handled 3,800 inquiries and 296 written complaints, and the Consumer Health Care Division received 4,287 inquiries and 586 written complaints.
“Insurance can be complex and consumers understandably don’t always know what is covered by their plan, or what their cost-sharing responsibilities are,” said Maine Insurance Superintendent Eric Cioppa. “The Bureau works with Mainers each day to help them understand their rights and responsibilities under their insurance contracts. Sometimes we simply provide clarification. However, when insurance companies have not processed claims properly, or when an agent or broker has acted unlawfully or unethically, the Bureau seeks to make the situation right, recover disputed funds, and apply disciplinary action, if needed.”
Consumers with questions about insurance matters can obtain information and assistance from the Bureau by visiting the agency’s website (www.maine.gov/insurance), calling toll-free 1-800-300-5000, 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: January 16, 2015 3:45 PM