Louisiana State Insurance Commissioner Filing a Complaint
The Louisiana State Insurance Commissioner, Martin D. Fahey has some advice for those considering the option of switching to a no-fault insurance company. "The no-fault system can be a godsend in many ways," Mr. Fahey said in an interview with the Insurance News Digest. "When you're behind on your premiums, sometimes there is a reason you're behind and that reason may be because of the system." Many people don't like this system, and want their problems fixed. But Mr. Fahey suggests that there are other problems with no-fault policies, which may have been hidden from consumers.
"The problem is that the whole thing is not transparent enough and the people that are selling it don't want you to know about it," he said. "The state gets a small percentage of the premium. That's why the commission was formed in the first place. They make sure the consumer is protected." Mr. Fahey went on to say that state agencies, including the Insurance Commissioner, should be more transparent. He also recommended that the state take the lead in protecting policyholders from "baseless" lawsuits, which often result from mistakes made by state insurance agents.
There have been complaints about the lack of disclosure on the part of the state's licensed agents. According to Mr. Fahey, the state should require agents to file a form that states the insurance company has provided them with all of the relevant details on rate increases and new rate changes. In addition to filing this form, agents should inform the state if they are changing the rates of their policies. They should also provide the state with any changes that have been made to the contract. The state would then have the information necessary to accurately calculate the premium for the new policy.
One such example of the type of mistake that could occur is underwriting an individual health insurance plan. Underwriters must consider a wide array of factors when determining how much someone would pay for coverage. In most cases, the underwriter would consider an individual's age, lifestyle, and medical history when calculating the risk of paying premiums. If this information was improperly obtained or omitted from the file, the insurance carrier would be responsible for these errors.
Mr. Fahey recommended that all complaints regarding insurance be filed with the Commission and referred to the Enforcement Division. If the complaint was found valid, the Commission would fine the insurance carrier. In addition to the fine, the carrier would also be required to reimburse the client for all reasonable charges for correcting the error and making the needed changes. Mr. Fahey also suggested that if a complaint was filed that had been resolved satisfactorily, the case is continued by the Commission.
The Louisiana State Insurance Commissioner has the responsibility to uphold the laws of the state. Complaints that are found to be valid will usually result in fines or other penalty improvements. However, Mr. Fahey has received complaints that his suggestions for settling complaints have resulted in the dismissal or waiver of penalties. For instance, in one case the complaint had been filed and the results of the complaint had been satisfactory, but the state decided to fine the client for submitting inaccurate information. Mr. Fahey indicated that his office would be willing to resolve any discrepancy without having to go through the court system.
It is important to remember that the internet can often be a leading source of information regarding how to file a complaint. If you find that you are not able to locate the correct online process, you should write a letter to the Insurance Commissioner expressing your frustration with the process. egg insurance should also be prepared to provide information relating to any other pertinent information you can provide. This letter should also include your full contact information and your complaint number. Always file your complaint with the state within three days of the date of the complaint being filed. Failure to file a complaint within three days of the date of the order or complaint being filed will cause the case to be dismissed.
If you decide to go ahead and file a complaint with the state Insurance Commissioner's office, you should follow all of the necessary steps required for doing so. First, you should receive a copy of the complaint that you have filed. Next, you will need to attend a hearing with the Insurance Commissioner. At this meeting you will be given an opportunity to further explain your complaint and to ask questions about the process that should be followed when filing a complaint. If all of the information provided in this article is verified, you should have a positive feeling about the entire process of filing a complaint with the state.
