April 18, 2019

Claim-Handling woes are prominent in Consumer Insurance Gripes

According to a recent study by the National Association of Insurance Commissioners, claim disputes and problems figure prominently among the reasons for consumer complaints. The top five reasons behind insurance complaints in 2008:

Claim delays 19.1%
Claim denials 18.4%
Unsatisfactory settlement/offer 14.2%
Premium & rating 4.7%
Cancellation 4%

What types of insurance generate the most claims?

Accident & Health 36.9%
Auto 36.7%
Homeowners 11.8%
Life & Annuity 9.5%
Commercial Multi-Peril 1.9%

Comments

  1. product liability insurance says:

    Well the stats do always change every year. All though the main reason behind insurance complaints is always the delay in claim and denial still people want to have an insurance policy to protect them from various risks.

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