The Colorado Division of Insurance recovered approximately $2.8 million for car insurance policyholders in the state in the past year, according to a new report.
Online PR News – 11-November-2010 – – The complaint-handling activity of the Colorado Division of Insurance (DOI) was documented in the recently released Complaints Against Insurers report, which is compiled annually so that legislators can get a better understanding of insurance practices within the state.
According to the report, the DOI fielded more than 25,500 correspondences from consumers in the past year, resulting in a total of nearly 5,000 formal grievances. During this period, the investigation of these grievances amounted to total of more than $12 million being recovered for policyholders, with approximately $2.8 million of that sum being recovered from Colorado auto insurance companies.
Common issues that resulted in consumer complaints and protests filed with the department include disputes over coverage and challenges to surcharges, cancelation of policies and reduction of coverage.
Of the auto-related issues, most were related to underwriting. The most common topics of complaints and protests were related to surcharges, credit scoring, and premiums and rating.
Although issues with car coverage accounted for more than half of the total number of complaints and protests filed within the last year, they also had the lowest rate of confirmation, meaning that they had the least number of complaints and protests in which the department sided with the consumer. The confirmation rate was only 40 percent.
For more information on Colorado car insurance issues, consumers can go to http://www.onlineautoinsurance.com/colorado/ where visitors from any state will be able to shop for a policy by using the free quote-comparison generator.