The Connecticut Insurance Department has announced that it recovered $4 million during the first half of this year.
The department”™s Consumer Affairs Unit handled more than 3,800 complaints and
inquiries from policyholders that resulted in the recouping of nearly $2.7 million from Jan. 1 to June 30. The department”™s Market Conduct division levied approximately $1.3 million in fines against carriers. That money was allocated to the state”™s General Fund.
The majority of the funds recovered on behalf of policyholders during this period stemmed from complaints over health and accident policies ($1.9 million), auto policies ($270,000), homeowners and commercial property policies ($220,000) and life and annuities policies ($202,000).
Insurance Commissioner Katharine L. Wade highlighted one instance in which an insurance company failed to comply with Connecticut”™s new law mandating coverage for hearing aids. The Insurance Department intervened and helped return more $580,000 that was rightfully owed to policyholders, Wade said.
