It Figures

$220 Million

Estimated 2010 storm losses in Kansas climbed to $220 million as of the end of August, according to the Kansas Department of Insurance. There were approximately 59,400 storm claims filed during the same period. The department said estimated storm loss data consist of windstorm, tornado, and hail damage or other weather-related claim losses for insured real and personal property in Kansas reported for the calendar year and monthly during the calendar year. Estimated flood losses and other insured perils are not included in the data.

$6.5 Million

Consumers who filed complaints with the Missouri Department of Insurance have received $6.5 million from their insurance companies in 2010. The money was returned as a result of the department’s mediation efforts on behalf of consumers who had filed complaints against their insurance companies. The most common reasons for complaints included denial of claims, claim delays, and unsatisfactory offers. The department recorded the most complaints for these types of insurance: health, auto and homeowners. In the first three quarters of 2010, the department fielded more than 3,200 formal complaints and assisted 2,600 consumers in writing and another 15,500 over the telephone.

$10 Million

Allstate has agreed to pay $10 million to 45 states in a regulatory settlement involving its use of claims handling software. New York State Insurance Superintendent James J. Wrynn said the agreement follows an 18-month targeted National Association of Insurance Commissioners (NAIC) multi-state market conduct examination of Allstate’s claims handling practices. The agreement calls for Allstate to change procedures and for state insurance departments to better train their examiners in insurers’ use of claims technology. The examination focused on Allstate’s use of claims handling software – particularly Colossus – which Allstate used to guide settlement offers for bodily injury claims after automobile accidents. The NAIC found that Allstate had failed to modify or “tune” the software in a uniform and consistent manner across its claims handling regions.