The
mission of the Michigan Office of Financial and Insurance Services (OFIS)
is to provide excellent customer service and effectively regulate the
financial institutions, lending, insurance, and securities industries.
Part of that customer service and effective regulation is to receive and
respond to complaints or questions about insurance companies from citizens
of Michigan.
OFIS receives thousands of
complaints every year regarding insurance companies. Complaints about
health insurance (excluding HMOs), automobile, life, homeowners, and other
types of insurance have been counted and compiled into ratios. Complaint
ratios are created by dividing the dollar amount (in millions) of written
premium into the number of filed complaints. The resulting ratios provide
complaint information that can be meaningfully compared across insurance
companies, regardless of size.
Why Publish the Complaint
Ratios?
The complaint ratios in this report have been made available to provide
consumers with a way to compare complaints filed against an insurance
company that has taken into account the size of the company. The report
lists insurance company ratios by similar types of coverage (e.g. automobile
insurance, health insurance, life insurance). A complaint ratio was established
for any company writing more than $1,000,000 in premium. Detailed information
on HMO complaints is available in our HMO Consumer Guide.
Compare Insurance Companies
by More than Just Complaint Ratios
Complaint ratios are provided as a tool to help consumers choose an insurance
company, but other factors such as the following, should be used when
comparing companies:
- Premiums charged
- Benefits provided
by the contract
- Financial stability
of the company
- Levels of service
provided
- Health insurance reviews
for HMOs posted with the HMO
Consumer Guide on this web site.
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Again, the complaint ratios
should not be the only factor used to choose an insurance company, but
access to the information may be useful for the consumer. It is important
to know that this report does not indicate a finding of fault of either
party to the complaint; it is just a summary of complaints filed taking
into account the amount of business the insurance company does in Michigan.
We hope that you find these
complaint ratios helpful in selecting the insurance company that is right
for you.
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