FOR IMMEDIATE RELEASE

January 21, 2016

Policyholders Recover $5.1 Million with Help from the Louisiana Department of Insurance

Insurance policyholders in Louisiana were able to collect an additional $5.1 million as a result of assistance provided by the Louisiana Department of Insurance (LDI) in 2015. Insurance Commissioner Jim Donelon says these funds are the result of LDI staff working with company representatives to resolve complaints and are in addition to the original amounts offered to consumers by their insurance companies.

“We can let consumers know what options they have and help resolve disputes between policyholders and insurers that may result in securing additional insurance payments. Over the last five years, we’ve been able to help consumers recover more than $26 million,” said Commissioner Donelon. 

 Funds recovered are from formal complaints regarding property and casualty, health, and life and annuities products. The LDI received 3,667 consumer complaints from January through December 2015. Information on complaints and funds by insurance product is as follows:

Consumer Insurance Dispute Settlements (January 1 – December 31, 2015)

 In 2014 the LDI helped consumers recover $4,484,077.67 and there were just under 3,000 complaints filed. Consumers may file a formal complaint online by going to www.ldi.la.gov/onlineservices. A paper form may also be sent by mail by contacting the LDI. Consumers may also file a complaint by visiting the LDI and meeting with an insurance specialist who can help them with the process. Appointments are not required and LDI keeps staff members available between 8:00 a.m. and 4:30 p.m.

Policyholders who file a complaint will receive a tracking number which they can use to check the progress of their case online. For assistance, consumers may contact the Office of Consumer Services by calling 1-800-259-5300.

Specific areas where the Department can be of assistance include guidance following unsatisfactory resolution of a claim, help locating a life insurance policy and unbiased counseling navigating Medicare choices. Examples of ways the LDI has helped others and can help you too can be found on the LDI website at www.ldi.la.gov/findhelp.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state’s insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by calling 1-800-259-5300 or visiting www.ldi.la.gov.