Tuesday, March 24, 2009

Consumer Insurance Protection


HB 1385 was sponsored by Sen. Gail Schwartz in 2008

DENVER-- Gov. Ritter today announced that the Department of Regulatory Agencies’ Division of Insurance has launched a new online guide designed to protect and educate consumers on insurance choices and to help them save money during this economic crisis. This is the result of a bill from last year sponsored by Rep. Diane Primavera and Sen. Gail Schwartz (D-Snowmass).

"The creation of this website will make shopping for insurance policies less of a headache for consumers. This website increases transparency and creates a centralized location online where policies can be compared, questions answered and complaints filed and read. We are taking the anxiety out of insurance shopping and making the process easier for everyone," said Sen. Gail Schwartz, who was the Senate sponsor of the bill.

“Rep. Primavera’s 2008 House Bill 1385 called for this web guide, which is a part of our ‘Building Blocks for Healthcare Reform’ plan,” said Gov. Ritter. “As we face this global economic crisis, we know that every penny counts and this website provides easy-to-use information to consumers so they can make the best choices for their budget.”

The website guides consumers through the many choices to consider when selecting insurance including: the types of insurance available, coverage limits, a comparison of benefits offered by different carriers, premium costs and the number of complaints a company has received. Consumers also can find information about how to file written complaints if they are dissatisfied and feel an insurance company hasn’t fulfilled their expectations.

"During these tough economic times, people are losing their jobs and their benefits. Many Coloradans are finding themselves shopping for insurance on their own for the first time in their lives. The website launch is a timely tool for those trying to navigate the maze of insurance policies,” said Rep. Dianne Primavera.

The Division of Insurance has worked hard over the last six months to produce one of the most comprehensive consumer sites in the country,” said Colorado Commissioner of Insurance, Marcy Morrison. “We urge Colorado citizens to become better informed before making tough decisions about any type of insurance."

To view the guide, visit the Department of Regulatory Affairs website or click here.