If a payment problem develops with an insurance company and the company ignores claims and exceeds time limits to pay a claim, it is prudent to contact the
A) federal insurance commissioner.
B) state insurance commissioner.
C) state insurance federation.
D) department of public service.

Question

Quizplus · Accepted Answer

State insurance commissioners are responsible for regulating insurance companies and handling consumer complaints within their respective states. They can investigate and intervene in cases where insurance companies are not fulfilling their obligations to policyholders, including not paying claims in a timely manner. The federal insurance commissioner does not exist as such; however, there is a federal agency called the National Association of Insurance Commissioners (NAIC) which provides guidance and support to state insurance commissioners, but they typically do not handle individual consumer complaints. The state insurance federation is not a recognized regulatory body, and the department of public service may not have jurisdiction over insurance matters.

If a Payment Problem Develops with an Insurance Company and the Company