NAIC Cites Top Insurance Complaints for 2008
WASHINGTON, D.C. — According to data released today by the National Association of Insurance Commissioners (NAIC), the top three reasons consumers filed formal complaints against their insurance companies in 2008 were delays, denials of claims and unsatisfactory settlement offers. Premium/insurance rating and policy cancellation issues completed the top five.
The NAIC collected the data through its centralized 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. First established in 1990, the CDS was significantly expanded in 1998 and now houses data on more than 2 million complaints.