Department of Insurance recovers nearly $1M for Delaware consumers
Dover, Del. — Insurance Commissioner Karen Weldin Stewart and the Delaware Department of Insurance announced that its Consumer Services Division has recovered $995,558.73 for consumers during the first six months of 2015. Delaware employers have also saved approximately $3,978,296.00 in workers compensation premiums during the same period through the department’s Workplace Safety Program.
The Consumer Services Division received 2,345 formal insurance coverage complaints and inquiries regarding automobile, homeowner’s and health policies between January 1 and June 30, and directly recovered $543,052.39 from insurers on Delaware policyholders’ behalf. The division also conducted arbitration hearings requested by or on behalf of policyholders, which netted consumers $452,506.34 in arbitration awards.
“Our Consumer Services Division staff continues to fight for Delaware consumers,” said Stewart. “We want people to know about their rights and options when dealing with insurance companies. Policyholders can always turn to us for free and unbiased assistance with their insurance questions.”
The Workplace Safety Program incentivizes employers to establish and maintain safe workplaces. The program provides businesses with the opportunity to earn discounts of up to 19 percent on their workers’ compensation insurance premiums by meeting certain safety requirements and agreeing to undergo periodic inspections.
The $3,978,296.00 savings figure, provided by the Delaware Compensation Ratings Bureau, is approximate because businesses may pay their workers compensation insurance premium annually, quarterly, or by some other schedule.