Michigan Department of Insurance Recovers $19.5M for Consumers in 2023

The Michigan Department of Insurance and Financial Services (DIFS) announced that the department helped recover more than $19.5 million for Michigan consumers in 2023. In addition, DIFS staff answered nearly 140,000 consumer phone calls, a single year record, and handled more than 7,500 consumer complaints.

DIFS is the state agency that regulates the insurance and financial services industries in Michigan. The DIFS Office of Consumer Services is responsible for assisting consumers with inquiries and complaints about the insurance and financial services industries in Michigan. Through the DIFS Call Center and complaint handling processes, DIFS achieved:

• Total consumer recoveries: $19,665,573
• Consumer calls answered: 139,969
• Consumer complaints received: 7,543

In addition to directly assisting consumers with questions and complaints, DIFS also licenses insurance agents, insurance companies, state-chartered banks and credit unions, and other financial services companies. DIFS’ regulatory oversight helps to ensure that Michigan consumers have options that are safe, sound, and trustworthy when it comes to shopping for insurance and financial services.

Source: DIFS