December 14, 2001
Contact: Lucas Hamilton
Insurance consumer information Web site launched Interactive Web tool created for consumer research of company complaint, financial data
State Auditor John Morrison and members of a national consumer protection group today launched the Consumer Information Source Web site for insurance consumers. Morrison unveiled the site this week at a meeting of the National Association of Insurance Commissioners in Chicago before the nation's 50-plus insurance commissioners and several hundred insurance industry and consumer representatives.
The Web site, which is hosted by the National Association of Insurance Commissioners, allows consumers to access information about specific insurance companies including the amount of premiums written, assets, liabilities and licensing. It allows consumers to compare the complaint ratios of insurance companies nationally and state by state. State insurance departments submit the data to the Web site.
"We developed the site so that consumers can be better-informed insurance buyers," said Morrison, Montana's Insurance Commissioner and chairman of the national Consumer Protection Working Group that developed the site. "The site allows Montana consumers to file complaints against insurance companies, which are then routed directly to our insurance department."
The site also allows consumers to review statistical information on previously resolved complaints against a company.
The launch of the Web site is the conclusion of a nine-month effort by the working group of state insurance regulators. The group obtained input from consumer and industry representatives in developing the site.
Kansas Insurance Commissioner Kathleen Sebelius commended Morrison for getting the Web site up and running in less than a year.
"This site has been talked about for more than six years and it was never completed until this group bit the bullet and moved forward," Sebelius said. In past years, industry representatives have had concerns about allowing consumers to view complaint information against insurance companies.
Consumers can access the Consumer Information Source through the National Association of Insurance Commissioners' Web site at www.naic.org.
<Back to Headlines of Year 2001>