Consumer Complaints on Life Insurance / Annuity Contracts - Ohio ...

2008 Life Insurance / Annuity Contract Complaint Statistics
Total number:
In 2008, consumer
complaints on life
insurance / annuities
received by the
Ohio Department
of Insurance...
Total number:
In 2008, authorized
companies having
life insurance
or annuity contract
premiums in Ohio...
Total number:
In 2008, authorized
companies having
life insurance /
annuity contract
complaints in Ohio...
Total number:
In 2008, complaints
about life insurance
or annuities involving
authorized
companies in Ohio…
Total number:
In 2008, life
insurers having
at least ten
complaints in
Ohio…
986 463 186 937 21
Top 10 Reasons for Life Insurance / Annuity Contract <strong>Complaints</strong> in 2008
Reason
<strong>Complaints</strong>
1. Coverage question 158
2. Marketing / sales misrepresentation 130
3. Information requested 118
4. Surrender problems 80
5. Delay of claim 76
6. Denial of claim 65
7. Premium notice / billing issues 61
8. Premium refund due, but not paid 37
9. Coverage /policy cancellation or non-renewal 27
10. Access to policyholder service /care 19
>> Total complaints represented by the above Top 10 reasons = 771
>> Represents 77% of the 995 total life insurance / annuity complaint reasons registered in 2008
2008 Life & Annuity Insurance Complaint Ratios
Notes:
Includes every company that received at least seven complaints about life & annuity insurance in 2008
Market Share is the company's percentage of Ohio's total life & annuity premium in 2008
Complaint Ratio is a comparison of the company's Ohio life & annuity premium and complaints in 2008
We've shortened company names by omitting words like 'Insurance' and 'Company'
Life & Annuity Ohio Ohio Complaint Total
Insurers Life & Annuity Market to Premium <strong>Consumer</strong>
(in alphabetical order) Premium Share Ratio <strong>Complaints</strong>
Allianz Life Ins Co of North America $311,863,334 1.57% 0.10 31
American Gen Life & Acc Ins Co $38,193,937 0.19% 0.73 28
American Gen Life Ins Co $115,739,872 0.58% 0.07 8
American Investors Life Ins Co $256,292,153 1.29% 0.03 7
Bankers Life & Cas Co $39,152,907 0.20% 0.41 16
Conseco Life Ins Co $6,244,368 0.03% 2.40 15
Genworth Life & Annuity Ins Co $139,088,112 0.70% 0.06 8
Genworth Life Ins Co
$85,701,661 0.43% 0.08 7
Globe Life & Accident Ins Co $24,239,621 0.12% 0.95 23
Great American Life Ins Co $179,679,376 0.91% 0.04 8
Ing USA Annuity & Life Ins Co $484,108,405 2.44% 0.01 7
Jackson Natl Life Ins Co $589,932,418 2.97% 0.02 9
John Hancock Life Ins Co $157,480,697 0.79% 0.06 9
Lincoln Natl Life Ins Co $902,907,485 4.55% 0.03 23
Metropolitan Life Ins Co $613,782,769 3.09% 0.06 36
Midland Natl Life Ins Co $142,309,218 0.72% 0.06 8
Monumental Life Ins Co $110,544,566 0.56% 0.29 32
National Western Life Ins Co $26,174,084 0.13% 0.42 11
Nationwide Life Ins Co $598,112,097 3.01% 0.04 25
New York Life Ins Co $193,747,119 0.98% 0.05 10
Ohio National Life Ins Co $568,558,569 2.86% 0.02 13
OM Fin Life Ins Co $100,477,354 0.51% 0.20 20
Pacific Life Ins Co $515,968,812 2.60% 0.02 10
Phoenix Life Ins Co $42,117,893 0.21% 0.17 7
Primerica Life Ins Co $52,177,037 0.26% 0.17 9
Protective Life Ins Co $187,125,389 0.94% 0.06 12
Prudential Ins Co Of Amer $355,763,679 1.79% 0.12 44
Reassure America Life Ins Co $32,728,313 0.16% 0.46 15
Stonebridge Life Ins Co $11,365,598 0.06% 0.70 8
United Ins Co Of Amer $9,299,617 0.05% 1.51 14
Washington Natl Ins Co $5,255,143 0.03% 2.66 14
Western & Southern Life Ins Co $60,250,279 0.30% 0.41 25
Western Southern Life Assur Co $377, 613 , 856
1. 90%
012 0.12 45
Total Carriers Above / 2008 $7,333,995,738 36.94% 0.08 557
All Ohio L & A Carriers / 2008 $19,852,675,075 100.0% 0.05 937
Above Carriers Percent of 36.94% 59.45%
All L & A Carriers / 2008