FOR IMMEDIATE RELEASE

 July 27, 2016

More than $3.7 Million Recovered for
Louisiana Insurance Policyholders

Louisiana consumers have received more than $3.7 million in recovered funds from their insurance companies in the first half of the year thanks to assistance from the Louisiana Department of Insurance (LDI). These policyholders have taken advantage of the staff on hand to answer questions, investigate complaints and advise consumers of the result of that investigation.

“Over the last five years, we have been able to help consumers recover more than $26.6 million in additional insurance payments,” said Insurance Commissioner Jim Donelon.  “I’m proud of the services we offer and the funds we have recovered for consumers. I’m also glad we have been able to continue to help citizens with their insurance issues while operating with fewer staff.”

The LDI has seen a decrease in employees of almost 20 percent since 2007 and implemented a reorganization in 2015 to more effectively utilize staff and other resources. The Office of Consumer Services, which was created as a result of the reorganization, handles complaints and has helped policyholders with the following cases:

•  $1.4 million recovered for a doctor whose medical office was damaged by a broken pipe in the ceiling
• $38,000 for a business owner whose property was damaged by a car crashing into his building
• Assisted consumer battling brain cancer with the reinstatement of his health care policy after the insurer improperly cancelled coverage

Funds recovered are from formal complaints regarding life and annuities, property and casualty, and health products. Information on complaints and funds by insurance product is as follows:

 Consumer Insurance Dispute Settlements (January 1 – June 30, 2016)

These funds are in addition to the original amounts offered to policyholders by their insurance companies. Consumers may file a formal complaint online by going to www.ldi.la.gov/onlineservices. A paper complaint form may be obtained by mail from the LDI. Consumers may also file a complaint by visiting the LDI and meeting with an insurance specialist in person who can help them with the process. Appointments are not required and the 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.

In addition to regulating the industry and enforcing the laws that provide a fair and stable marketplace, the Department serves the public in the following ways:

• Request help finding a lost life insurance policy. If you need help finding out if a loved one had a life insurance policy, you can contact us and request a search. We send these requests to all life insurance companies doing business in Louisiana.
• Find unbiased help with Medicare through the Senior Health Insurance Information Program. We have trained counselors who can help consumers make the best choice for their individual needs and save money by comparing plans.
• Shop rates for homeowners and auto insurance companies. You can compare your rates for similar types of homes or cars by company.You can use this information to determine if it’s time to get quotes from other companies in your area offering coverage.

For assistance, consumers may contact the Office of Consumer Services by calling 1-800-259-5300.

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.