Tennessee helped recover $17.45M for residents from insurance companies in 2023

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(The Center Square) – Tennessee’s Department of Commerce and Insurance says it recovered a record of more than $17.45 million for Tennessee residents in 2023.

The funds came through mediation and restitution efforts with insurance carriers as TDCI was involved in the mediation of 3,771 consumer complaints against insurance companies.

“TDCI’s Consumer Insurance Services team has worked tirelessly on behalf of Tennessee consumers in 2023, and I congratulate them for their record-breaking work,” said TDCI Assistant Commissioner Bill Huddleston. “Dealing with insurance-related issues can be overwhelming and frustrating, and our dedicated Consumer Insurance Services team is always ready to assist consumers with their questions and complaints.”

TDCI’s insurance division includes 126 full-time employees and was budgeted for $25.1 million in expenses in the 2023-24 fiscal year, up from 109 employees and $14.6 million in the 2021-22 fiscal year.

The insurance division’s 2022-23 and 2023-24 budgets were similar at just under $25 million.

TDCI says it regulates all types of insurance, and its Consumer Insurance Services team can answer questions at 800-342-4029 or 615-741-2218.

The most common complaints are related to claim denials, claim delays, unsatisfactory settlement offers and out-of-network benefits.

“Filing a complaint is always an option for consumers who feel as if an insurance claim has been unjustly denied, or if they have questions or concerns about their insurance policies,” Huddleston said.

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