Georgia Recoveries Highlight Role of Insurance Regulators

Regulators in the state announced they recovered more than $10 million last year.

FOR IMMEDIATE RELEASE
Atlanta, Georgia, United States of America (Free-Press-Release.com) January 26, 2012 --A recent announcement from Georgia’s Office of Insurance and Safety Fire Commissioner saying that the office recovered well over $10 million for consumers in 2011 underscores an import role of state regulators.

The funds were recovered on behalf of residents and businesses who had problems with companies that provided their homeowners, health and car insurance in Georgia, along with other types of coverage.

The commissioner said in a statement that many of the people who had funds returned to them called the office with claims disputes. The commissioner’s office helped more than 42,000 policyholders in the past year. The $10.6 million sum represents those cases in which insurers were found to have acted wrongly by paying too little for settlements or denying claims altogether.

But, in the announcement, Insurance Commissioner Ralph Hudgens said consumers don’t necessarily need to have a complaint to call his office.

“Consumers can call even if they just want their insurance policy explained or reviewed,” Hudgens said in a statement.

Source: http://www.oci.ga.gov/ExternalResources/Announcements/NewsReleaseInsurance-1242012-101.pdf

Many states have been coming out with year-end numbers showing how many consumers they helped in 2011 and how many funds they helped recover.

Some of those departments are reporting all-time-high recovery rates, which may be the result of the increase in claims that was seen after severe weather events that have taken place in the second half of 2011.

This month, Missouri regulators announced that the amount they recovered in 2011—$21 million—was more than double than the amount recovered in 2010.

To learn more about this and other auto insurance issues, you can go to http://www.onlineautoinsurance.com/georgia/ to find informative resource pages and a helpful quote-comparison generator that can assist consumers from any state in finding the best rates for a policy.

More information can be found online at http://www.onlineautoinsurance.com/