The Nevada Division of Insurance (DOI) announced that it has recovered over $6.1 million for Nevada consumers in the fiscal year 2023. The DOI’s Consumer Services and Enforcement teams investigate thousands of consumer complaints each year and help settle claim disputes and recover money owed by insurance companies to policyholders.
How the DOI protects consumers
The DOI is the state agency that regulates the insurance industry in Nevada. Its mission is to protect the rights of Nevada consumers in their experiences with the insurance industry and to ensure the financial solvency of insurers. The DOI has a team of highly trained insurance professionals who are available to answer questions, explain rights and advocate for consumers when they have an issue with their insurance company.
The DOI handles complaints about various types of insurance products, such as auto, home, health, life, commercial, service warranty, title, workers’ compensation, surety bonds and bail bonds. Consumers can contact the DOI by phone, email or online to file a complaint or request assistance. The DOI also conducts investigations and enforcement actions against insurance companies and agents who violate the law or regulations.
How the DOI recovered over $6.1 million in 2023
In the fiscal year 2023, which ended on June 30, the DOI received 4,521 consumer complaints and inquiries. Of these, 2,867 were resolved through the Consumer Services Section and 1,654 were referred to the Enforcement Section for further investigation. The DOI also conducted 1,083 market conduct examinations and audits of insurance companies and agents.
As a result of these activities, the DOI recovered $6,115,234 for Nevada consumers in 2023. This amount includes refunds, payments, adjustments, credits and other benefits that consumers received from their insurance companies due to the intervention of the DOI. The DOI also imposed $1,072,500 in fines and penalties on insurance companies and agents who violated the law or regulations.
How consumers can contact the DOI
Commissioner Scott Kipper said that the recovery numbers show the DOI’s continued commitment to protecting Nevada’s consumers. He urged consumers to contact the DOI if they have any questions or complaints about their insurance products or services.
To contact the Nevada Division of Insurance, consumers can call (775) 687-0700 (Northern Nevada); (702) 486-4009 (Southern Nevada); Toll-Free (888) 872-3234.