The National Association of Insurance Commissioners (NAIC) has put out a strong statement accusing Marc Racicot, president of the American Insurance Association of exaggerations and inaccuracies in recent statements.

“High-paid insurance lobbyists consistently criticize and attempt to undermine state insurance regulators for what they consider to be slow filing processes,” said Sandy Praeger, NAIC President and Kansas Insurance Commissioner. “It is ironic that as they complain about process delays, consumers tell us that some insurance companies are slow to pay claims. In fact, 60 percent of consumer complaints reported to the NAIC by states are the result of claims handling problems caused by insurance companies. A large majority of them due to slow claims payment processes or outright denials.”

“It is time for the industry to address speed-of-payment to consumers,” Praeger said.

Reality Check: Lobbyist Twists the Facts (NAIC 4/3/08)

April 8, 2008