South Carolina Reports Nearly $5M Returned to Insurance Consumers in 2017

South Carolina Department of Insurance (SCDOI) assisted South Carolina insurance consumers in receiving $4,997,748 in insurance-related payments in 2017, according to a statement from Director Ray Farmer.

These recovered funds are in addition to the original amounts offered to policyholders by insurance companies. These amounts were recovered through the investigation and resolution of nearly 3,500 consumer complaints.

“The Department’s Office of Consumer Services staff responds to questions and provides assistance to South Carolinians regarding their insurance-related concerns,” Farmer stated. “Our dedicated staff works hard every day to regulate the insurance industry and to ensure South Carolinians receive the full protection of the law.”

Farmer also announced the staff assisted over 8,300 South Carolinians with insurance-related inquiries in 2017, bringing the total number of consumers assisted for the year to more than 11,800.

The SCDOI Office of Consumer Services is responsible for ensuring effective customer service for the state’s insurance consumers, one of the agency’s core external customer groups. They are responsible for assisting the general public with their insurance questions or complaints and can assist with any type of insurance within the SCDOI’s regulatory authority, including homeowners, automobile, health, life, dental or disability insurance or annuities. They also provide consumers with market assistance when shopping the insurance market and offering aid to consumers following a catastrophic event.