IDOI understands that consumers considering insurance need information on the companies they are considering. Complaint information illustrates company performances. This information allows you to provide feedback and receive constructive criticism.
To regulate the insurance industry and cut down on fraudulent activity the NAIC asks that any suspected fraudulent activity by insurance brokers be reported.
If you have been a victim or have witnessed fraud please contact the NAIC.
Company Complaint Index
The Complaint Index Ratio Table shows consumer complaints filed with the Department of Insurance from 2001 – 2004. The index is weighted by premiums received from the insurance company.
The Complaint Index Ratio Table provides information including:
- Health Carriers
- Life Carriers
- Annuity Carriers
- Auto Carriers
- Homeowner Carriers
The table uses the amount of each company’s premium and the number of closed complaints against the insurer during a calendar year to arrive at a complaint index.
- An index of 0.50 means that the insurer’s share of complaints is half as large as its share of business
- An index of 1.00 means the insurer’s share of all complaints received is equal to its share of all the business written in Indiana.
- An index of 2.00 means that the insurer’s share of complaints is twice as large as its share of business written in Indiana
Important factors to keep in mind when looking at the complaint index include:
- Cost of the insurance
- Services provided by the producer
- Company’s claims processing services
- Financial stability of the company