N.D. Poolman Announces $5.8 Million Recovery in Refunds and Benefits

Insurance Commissioner Jim Poolman announced this week that the North Dakota Insurance Department assisted North Dakota consumers in recovering around $5.8 million in refunds and benefits in 2006. This figure consists of dollars recovered through the Department’s Complaint Hotline, consumer complaints against agents, companies, investigations and benefits received through the Prescription Connection for North Dakota and the Senior Health Insurance Counseling (SHIC) programs.

In 2006, the Department received and made around 10,000 calls on behalf of consumers regarding various insurance issues. These inquiries resulted in 230 formal complaints against companies and agents. Most complaints involve disputes over fault in automobile accidents, coverage disputes on health insurance claims, and settlement amounts on homeowners insurance claims. Complaints against agents most often involve allegations the agent misrepresented the costs and benefits of the life insurance products they sold.

In 2005, the Insurance Department handled approximately 10,000 calls, processed 260 formal complaints, and recovered $8.4 million.

Source: North Dakota Department of Insurance