(Salem, OR – Insurance News 360) – On March 8, the Oregon Division of Financial Regulation announced that in the previous year, their investigations of insurance complaints had resulted in recovery of more than $3.4 million for individuals in more than 4,000 cases.
The biggest reason consumers filed complaints against their insurance companies were claim denials and delays, which made up more than 30 percent of all complaints.
Health insurance received 36 percent of the total complaints, and auto insurance complaints were another 30 percent of the total. But, it was life and health insurance claims that accounted for 75 percent of recovered insurance funds.
“Helping consumers understand their policies and making sure they receive the money they are owed is one of the most gratifying and important parts of our jobs,” said Andrew Stolfi, Oregon insurance commissioner. “We want consumers to contact us anytime they have questions or concerns about their insurance or financial products.”
Oregonians who need help with insurance or financial products are urged to contact the division, part of the Oregon Department of Consumer and Business Services. The division’s advocacy team can help with a wide range of consumer questions and concerns, such as claim delays, unreasonable settlement offers, and unfair loan terms.
Oregonians with questions or concerns about their insurance or financial products are encouraged to contact our advocates one of three ways:
Call the advocacy team at 888-877-4894 (toll-free)
Source: Oregon Division of Financial Regulation.