Trying to understand life insurance options and benefits information can be overwhelming.  Navigating the claims process can be time-consuming and frustrating.  If your claim is denied, deciding whether you need to file a lawsuit provides yet another challenge.   Working with an experienced life insurance lawyer makes it easier to wade through the various stages of the life insurance process, especially filing a claim or a lawsuit.

The Pennsylvania Insurance Commissioner Website

The Pennsylvania Insurance Commissioner provides a resource that makes it even easier for you to work with your life insurance lawyer: the Pennsylvania Insurance Department website.   The website is a service to help consumers better understand the following:

  • Types of insurance coverage available
  • Choosing an insurance company
  • Compliance and complaint ratings of insurance companies
  • Premiums of different companies
  • Protections available for insurance consumers

In addition, if you have to file a lawsuit, the website provides valuable information that can help you with your suit, such as a consumer complaint comparison tool, a list of regulatory actions that have been taken against companies and licensees and a list of multi-state life settlement agreements.

Consumer Complaint Comparison Tool

The consumer complaint comparison tool allows consumers to see how many complaints have been filed against insurance companies, as well as the types of complaints made.  For instance, complaints might be filed for problems with how a company handles its claims, policyholder services, marketing and sales or underwriting.

The consumer complaint comparison tool also provides a complaint index, which is a calculation comparing a company’s market share with the number of closed complaints against that company that have been filed with the Pennsylvania Insurance Department.

In general, if a company has a complaint index of one, the percentage of closed complaints is equal to the market share held by that company.  An index higher than one means that the number of closed complaints for that company exceed its share of the market, and an index less than one means the company’s share of the market exceeds its percentage of closed complaints.

Insurance Company Status

Insurance companies must follow all laws and regulations.  Allegations of violations are investigated by the Pennsylvania Insurance Department.   Any past or present enforcement actions taken by the Insurance Department against an insurance company are listed on the Insurance Department website.  In addition, insurance companies’ Market Conduct Examination Reports are posted on the website.

The Office of Liquidations and Rehabilitations administers the liquidating or rehabilitating of insolvent insurance companies.  The Pennsylvania Insurance Department maintains a list of companies currently in liquidation and posts the list on its website.

While the information found on the Pennsylvania Insurance website is informative, if you are disputing a life insurance claim, you will need an individual advocate in addition to the information about your life insurance company.  That is where Boonswang Law can really help.

Filing a lawsuit is a big step that should be based on your individual circumstances and made in consultation with a life insurance attorney who has successfully negotiated with and litigated against many life insurance companies.  Contact insurance attorney Chad G. Boonswang today for your free consultation.