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Yahoo
09-07-2025
- Automotive
- Yahoo
How and when to file a complaint against your car insurance company
You're upset that your auto insurance company won't pay to repair your car after an accident. Perhaps you feel like they unjustly denied your renewal or spiked your premium when you've been a good driver all year. If you tried to explain your position to them without results, consider filing a complaint with the Department of Insurance in your state. 'They will investigate your complaint and work with the insurance company to resolve it,' said Janet Ruiz, spokesperson for the Insurance Information Institute in San Diego. According to data from the National Association of Insurance Commissioners (NAIC), tens of thousands of complaints are overturned each year. This embedded content is not available in your region. Learn more: How does car insurance work? The basics explained. It might be hard to know when it's worth going through the time and effort to file an insurance complaint. Here are the most common reasons consumers file complaints against their insurers: It's been weeks or months since you've filed a claim, but there's been no word whatsoever from the insurance company about a resolution You felt disrespected or mistreated by the claims adjuster The adjuster or your insurance agent mishandled your claim Your claim has been denied without an explanation Your settlement offer seems unfairly low, though they won't tell you why The insurance company refuses to issue you a policy or renew your existing policy without a valid reason You're quoted a higher-than-normal price on an auto policy that is not commensurate with your driving record, age, or other determining factors Learn more: How to switch car insurance companies First, find the link to your state insurance department's complaint process on the NAIC website — the search tool is halfway down the page. Most states will have online or written complaint forms that you can fill out, asking you to complete the following information: Your name, address, and telephone number The name of your insurer What type of policy and your policy number Your insurance agent's contact information, if applicable The nature of your complaint Any documents, photos, and correspondence with the insurer or your agent, including emails and texts that support your complaint The type of resolution you're looking for While the complaint process is similar across states, there can be marked differences. Below are four states' procedures to serve as examples. The California Department of Insurance provides an online form to file a complaint and downloadable forms that you can mail to the state. However, the department recommends that consumers file a complaint online, as mailing paper forms may delay the process. The Golden State's complaint form also informs consumers that if they have filed a bad faith insurance claim against their insurer regarding their dispute, the state will defer its investigation until the lawsuit has been decided in court or settled. However, consumers should still lodge a complaint with the state while the lawsuit is ongoing so the state can have a record of it. After the lawsuit is concluded, the consumer and their bad-faith attorney can submit evidence of insurance law violations. Learn more: Car insurance requirements in California — and ways to save money In the Garden State, formal complaints against insurance companies must be submitted in writing — in dark ink and with no highlighted sections so all information is legible. In addition to the standard information mentioned above, the New Jersey Department of Banking and Insurance also asks consumers to include a copy of their auto insurance ID card, a copy of the policy declarations page, and, if applicable, notices of either a nonrenewal, premium increase, or claim denial. Learn more: Car insurance rates are rising in New Jersey. Here's how to save. The Texas Department of Insurance offers thorough step-by-step guides walking consumers through the process of filing a complaint, with optional guides in Spanish. For help with an auto insurance complaint, the Lone Star State recommends consumers follow these steps: Step 1: First, talk to your insurance company to resolve the issue. If you disagree with their decision, let them know why. Step 2: Ask your insurer for an appraisal. It's a three-appraiser process; The insurance company will provide its own appraiser; you hire and pay for your own appraiser; and you pay half of the cost for a third appraiser, chosen by the other two appraisers, to serve as the 'umpire.' Step 3: File a complaint with the state if you disagree with the appraisal results or if you believe your insurer violated any laws. The department details what it can do to resolve issues and what it can't do, like overrule the decision regarding who was at fault in an accident. Step 4: The department will contact the insurance company, which has 15 days to respond to the complaint, with an option to extend that time for another 10 days. Then the department will let you know how the insurer's response impacts your complaint. Step 5: If you are dissatisfied with the results of your complaint, the department provides resources to obtain legal help from a bad-faith attorney. Learn more: Car insurance costs are big in Texas. Here's how to get the cheapest rates. In Colorado, consumers are urged to first contact the Colorado Division of Insurance to explain their situation so a complaint analyst can determine whether the agency can help them and what that assistance would look like — including helping them file a complaint, said Bobbie Baca, the division's director of consumer services for property, casualty, and title insurance. 'While complaints are often warranted, it often happens that a complaint results from a misunderstanding of the complicated world of insurance,' Baca said. 'Complaint resolutions may include claim settlements, facilitating communications, and reversal of non-renewals or cancellations.' Indeed, a total of $4,995,340 last year was recovered for Colorado consumers through the division's investigations into their auto insurance complaints, according to the FY 2023-24 Colorado DOI Annual Complaint & Recoveries Report. It's best to file a complaint with your state's insurance department rather than with the Better Business Bureau or on other sites. The state departments are officially designated to process complaints and are the only ones that can take enforcement action if necessary. Below are five tips to help you file a complaint against your car insurance company, from how to go about it alone to when it's time to seek legal counsel. Tip 1: Start with your insurance agent. Try to resolve the issue first with your insurer or agent, and if they are not willing or able, ask for their supervisor's contact information. 'If you are still not satisfied, let them know that you will file a complaint with the Department of Insurance,' Ruiz said. 'They may be able to find a resolution without going through the complaint process.' Tip 2: Know when to skip the phone call. If the concern is directly related to the behavior of your agent, it may be better to skip calling your state's insurance department and file a complaint first, Baca advised. Tip 3: Compile supporting financial evidence. When including documents to support your complaint, be sure to have estimates from body repair shops and other figures disputing the insurer's decision. Tip 4: Locate an arbitrator. See if the terms of your policy dictate that you first go through either an arbitration or appraisal process with the insurance company. You can find an arbitrator from the American Arbitration Association. Tip 5: Consider a bad-faith attorney. As a final option, you may want to hire a bad-faith attorney, though state insurance departments typically offer their services for free, Baca said. 'We can answer a lot of questions, provide education, point people in the right direction, and if it is something we can investigate, we can help them file a formal complaint,' she said. 'If the division is unable to assist the consumer, that is when they may want to consider talking with an attorney.' Remember, once you hire an attorney, you will no longer be able to communicate directly with your insurance company, Ruiz advised. Tim Manni edited this article.
Independent Singapore
31-05-2025
- Business
- Independent Singapore
Cracking the code: How the insurance industry can win over Gen Z
As Gen Z, those born between 1997 and 2012, enter maturity, it's restructuring industries worldwide. Branded for their tech eloquence, realistic financial behaviours, and social cognisance and responsiveness, this generation has become the most dominant consumer group. However, despite their expanding economic leverage, there is one industry that's struggling to connect with them—insurance. Many studies expose a conspicuous gap between Gen Z and those within the insurance industry. With Gen Z's acceptance rates and deep-seated cynicism, it's obvious that the conventional approach is not working. However, this challenge also presents a significant opportunity if the industry is prepared to adapt and evolve. A generation largely uninsured According to a 2024 study by the National Association of Insurance Commissioners (NAIC) featured in a recent article from Finance Yahoo, less than 21% of Gen Z adults have renters' insurance. The numbers decrease even further with other major products—only 5% have contents insurance, 24% have life insurance, and 30% have travel insurance. This gap is not merely because of indifference. Since Gen Z individuals are evolving in an environment fraught with economic uncertainties, grappling with rising housing costs, student loan debts, and a volatile job market, insurance becomes a distant concern, a luxury they're considering getting 'someday.' Trust gap and why traditional insurance falls flat Gen Z's unwillingness also came from a profound distrust of legacy financial organisations. Having matured during economic recessions and amid online half-truths, many view underwriters as multifaceted, profit-driven individuals who are difficult to deal with and even harder to trust. There is also a prevalent opinion that insurance is something you need later, once you have a loan, start a family, or develop health problems. Until then, it's easy to depend on the mentality of 'I'll deal with it if something happens.' As a consequence, many Gen Z-ers either postpone insurance decisions or completely disregard them. Bridging the gap with education and digital innovation Approximately two-thirds of Gen Z mention a lack of knowledge and understanding about getting insurance. Likewise, trust is a key barrier to buying one. Even more disturbing, 48.1% of them say that they never think about insurance at all or assume it's already covered in the apps and services they're using. See also Guide to Health Insurance Plans in Singapore (2023) To alter these scenarios, insurance providers must meet Gen Z where they are—online. Affiliating with content makers on platforms such as Instagram, TikTok, and YouTube could help clarify and interpret the fine print. Quick, relevant videos on topics such as how deductibles work or why renters' insurance is important can have a huge influence. Simplify, digitise, and humanise Gen Zers are not anti-insurance—they merely can't see themselves in the way it's presently promoted or designed. With low homeownership rates, economic setbacks, and a preference for speedy, user-friendly digital solutions, they need insurance that feels relevant, accessible, manageable, and reliable. The industry has a fundamental choice to make—continue with 'business as usual,' or advance and transform into a space that speaks directly to this generation. This is not just about transforming a brand; it's a call for an in-depth modification, one that streamlines, digitises, and, most significantly, personalises how insurance is made available.
Yahoo
28-05-2025
- Business
- Yahoo
House passes bill to eliminate investment cap requested by FM
The Rhode Island House voted 71-0 Tuesday, May 27, 2025, to approve a bill repealing caps on alternative investments for local insurance companies. (Screenshot/Capitol TV) A state policy change aimed at helping Johnston insurance company FM expand its investments, and potentially, its employment in Rhode Island, sailed through the Rhode Island House of Representatives Tuesday. The 71-0 vote came without discussion, following a strong backing by Rep. Joseph Solomon, chairman of the House Committee on Commerce, which held a May 15 hearing on the bill. 'It's a great bill,' said Solomon, a Warwick Democrat, noting that no written or verbal opposition on the proposal emerged during the hearing before the House panel. The bill sponsored by Rep. Alex Finkelman, a Jamestown Democrat, was introduced on May 8 after FM executives met with House Speaker K. Joseph Shekarchi. The Fortune 500 company was formerly known as FM Global, but rebranded in July 2024. The proposed policy change seeks to let insurance companies invest as much as they want in nontraditional or alternative assets — referred to under federal reporting requirements as Schedule BA assets — like hedge funds, private equity funds and real estate holdings. It effectively reverses the 1984 law on the books, which limited investments on long-term assets outside of traditional stocks and bonds to no more than 10% of a company's total assets. Eleventh hour insurance bill could help top employer FM expand in R.I. The origins of the 1984 law remain somewhat hazy, but proponents for its repeal insist the rule no longer makes sense, with alternative investments like hedge funds now widely used and commonly accepted. 'When this law was enacted in 1984, the limitation was practical, as regulatory techniques for overseeing insurance investments were more limited at that time,' Solomon said Tuesday. 'The law is now outdated.' Since 2010, insurance companies have been steadily increasing investments in alternative assets, searching for higher returns in a low-interest rate environment. The appeal of alternate asset classes increased further after 2017 regulatory changes adopted by the National Association of Insurance Commissioners (NAIC), which reformed how companies could record exchange-traded funds on their balance sheets. Certain bonds are also now considered Schedule BA assets under a new NAIC effective Jan. 1. Removing the state's limit on BA investments now is particularly timely,' Jonathan Schreiber, associate vice president of state government relations for the American Property Casualty Insurance Association, wrote in a May 15 letter to lawmakers. The change would also put Rhode Island in line with neighboring Massachusetts and Connecticut — a key selling point for Gov. Dan McKee, who has already signaled support for the policy change. Especially as the state wrestles with how to retain major employers like Hasbro, Inc., which previously indicated it was looking to abandon its Pawtucket headquarters in favor of a new location in Boston. The potential relocation was put on hold after Trump tariffs roiled markets and put company profits at risk; an update is now expected sometime this summer. FM executives made it clear they have no intention of picking up and moving from their 8-acre Johnston headquarters, which houses the bulk of the property insurer's 1,500-person local workforce. Instead, the company is contemplating more hiring as it looks to expand its offerings of research, development and industrial and commercial insurance products for renewable energy, Finkelman said previously. FM did not offer specifics on expansion plans when asked by Rhode Island Current. Lifting the investment cap could also benefit the other 29 local insurance companies that operate in Rhode Island, according to Elizabeth Dwyer, director for the Department of Business Regulation. Dwyer wrote a letter supporting the policy change, noting that state business regulators will continue to carefully monitor companies. 'This vigilance gives me confidence that a blunt tool for investments is no longer necessary,' Dwyer wrote in the May 14 letter to lawmakers. Lincoln-based Amica Mutual Insurance Co. and Providence's Delta Dental of Rhode Island also submitted written support for the policy change, along with the Rhode Island Business Coalition and the National Association of Mutual Insurance Companies. A companion bill in the Senate, sponsored by Johnston Democrat Andrew Dimitri, remains under review by the Senate Committee on Finance following an initial May 20 hearing. A committee vote has not been scheduled as of Tuesday, according to Greg Pare, a Senate spokesperson. If passed by both chambers and signed into law by McKee, the investment cap would be repealed immediately. Reps. Arthur Handy, Brian Kennedy, Earl Read III and Brandon Voas were not present for the House vote Tuesday. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
28-05-2025
- Business
- Yahoo
Mark Farrah Associates Analyzed the 2024 Medicare Supplement Market
CANONSBURG, Pa., May 28, 2025--(BUSINESS WIRE)--In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), provided an overview of the 2024 Medicare Supplement market with insights about competitive positioning and standardized plan type preferences. Medicare Supplement plans, also known as Medigap or Med Supp plans, covered over 13.54 million seniors as of December 31, 2024, representing a year-over-year enrollment decline of 0.3%. Many leading managed care organizations, Blues plans, regional plans, and multiline carriers compete in the Medicare Supplement space. Highlights Include: MFA's assessment of standardized plan type preferences for 2024 found Plan G remained the most popular plan type, enrolling approximately 5.7 million members. Approximately 4.5 million Med Supp members were enrolled in Plan F and accounted for 30% of the market in 2024. Medicare Supplement plans collectively earned approximately $37 billion in premiums and paid out $31.3 billion in claims during 2024. The aggregate loss ratio (incurred claims as a percentage of earned premiums) was 84.4% as of December 2024. UnitedHealth continued to lead in this segment with 4.3 million members and covered 32% of the market as of December 31, 2024. To read the FREE full text of "Medicare Supplement Enrollment Down Slightly in 2024", visit the MFA Briefs on Mark Farrah Associates' website. You can also follow us on LinkedIn. About Med Supp Market Data Med Supp Market Data, a Health Coverage Portal option offered by Mark Farrah Associates, presents the latest market share and financial performance data for Medicare Supplement plans. The product includes state-by-state membership, premiums, claims and loss ratios for plans nationwide. Online tables also include claims contacts as reported in the financial statements as filed with the National Association of Insurance Commissioners (NAIC). California managed care plans do not file financial statements with the NAIC and are not included in this analysis. For more information about Med Supp Market Data, please visit our website ( or call 724.338.4100. About Mark Farrah Associates (MFA) MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. View source version on Contacts Mark Farrah AssociatesAnn Marie Wolfe, amwolfe@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
Mark Farrah Associates Analyzed the 2024 Medicare Supplement Market
CANONSBURG, Pa.--(BUSINESS WIRE)--In the latest Healthcare Business Strategy report, Mark Farrah Associates (MFA), provided an overview of the 2024 Medicare Supplement market with insights about competitive positioning and standardized plan type preferences. Medicare Supplement plans, also known as Medigap or Med Supp plans, covered over 13.54 million seniors as of December 31, 2024, representing a year-over-year enrollment decline of 0.3%. Many leading managed care organizations, Blues plans, regional plans, and multiline carriers compete in the Medicare Supplement space. Highlights Include: MFA's assessment of standardized plan type preferences for 2024 found Plan G remained the most popular plan type, enrolling approximately 5.7 million members. Approximately 4.5 million Med Supp members were enrolled in Plan F and accounted for 30% of the market in 2024. Medicare Supplement plans collectively earned approximately $37 billion in premiums and paid out $31.3 billion in claims during 2024. The aggregate loss ratio (incurred claims as a percentage of earned premiums) was 84.4% as of December 2024. UnitedHealth continued to lead in this segment with 4.3 million members and covered 32% of the market as of December 31, 2024. To read the FREE full text of " Medicare Supplement Enrollment Down Slightly in 2024", visit the MFA Briefs on Mark Farrah Associates' website. You can also follow us on LinkedIn. About Med Supp Market Data Med Supp Market Data, a Health Coverage Portal option offered by Mark Farrah Associates, presents the latest market share and financial performance data for Medicare Supplement plans. The product includes state-by-state membership, premiums, claims and loss ratios for plans nationwide. Online tables also include claims contacts as reported in the financial statements as filed with the National Association of Insurance Commissioners (NAIC). California managed care plans do not file financial statements with the NAIC and are not included in this analysis. For more information about Med Supp Market Data, please visit our website ( or call 724.338.4100. MFA is a leading data aggregator and publisher providing health plan market data and analysis tools for the healthcare industry. Committed to simplifying analysis of health insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Benefits Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus.
