Referral programWhich insurance companies were most complained about in January 2017?
The National Commission for Financial Services has updated information on work with appeals against the actions of insurance companies of Ukraine for August 2016 - January 2017.
For the period from 08/01/2016 to 01/31/2017, 2,351 appeals were received from individuals and legal entities on insurance issues, which is 343 appeals more (+ 17%) than last year.
The total amount of insurance compensation payments by insurance companies based on the results of consideration of appeals by the National Commission for Financial Services for the specified period amounted to UAH 55.34 million.
Work of the National Commission for Financial Services with complaints against insurance companies, August 2016 - January 2017
159
| Indicator | Total | Wed | Sep | Oct | Nov | Dec | Jan |
| Complaints | 2351 | 378 | 338 | 372 | 463 | 458 | 342 |
| Substantive complaints | 1889 | 243 | 281 | 297 | 370 | 389 | 309 |
| Acts | 216 | 29 | 36 | 12 | 41 | 54 | 44 |
| Orders | 21 | 31 | |||||
| Payments to the act, UAH million | 31.20 | 6.70 | 3.65 | 3.90 | 5.80 | 7.20 | 3.95 |
| Payments after the act, UAH million | 24.14 | 5.40 | |||||
| Payments for all, million UAH. | 55.34 | 12.10 | 10.15 | 7.39 | 9.92 | 11.63 | 4.15 |
Who was complained about the most?
The leaders in terms of complaints sent were 8 insurers, including: "European Insurance Union" (188 complaints, additional payment of UAH 2.73 million), ST "Illichivske" (179 complaints, additional payment of UAH 0.23 million), SO "Dominanta" (157 complaints, additional payment of UAH 18.69 million), "Ukrainian Transport Insurance Company" (141 complaints, additional payment of UAH 2.51 million), NASK "Oranta" (117 complaints, additional payment of UAH 1.14 million), "UOSK" (98 complaints, additional payment of UAH 5.1 million), "Providna" (97 complaints, additional payment of UAH 1.58 million), "Kyiv Insurance House" (69 complaints, UAH 0.65 million paid).
A total of 1,046 complaints were received against the 8 mentioned insurers over the last 6 months (44.5% of all complaints against Ukrainian insurers). The amount of additional compensation payments based on the results of the Regulator's consideration of the applications amounted to UAH 32.63 million.
List of insurers with the most complaints, August 2016 - January 2017
157 23
24
| . | Insurer | Total | Ser | Ser | Ser | Oct | Nov | Dec | Jan |
| 1 | European Insurance Union | 188 | 7 | 22 | 27 | 39 | 50 | 43 | |
| 2 | Illichivske | 179 | 4 | 20 | 29 | 54 | 48 | 24 | |
| 3 | Dominant | 22 | 24 | ||||||
| 4 | UTSK | 141 | 30 | ||||||
| 5 | NASK «Oranta» | 117 | 28 | 18 | 15 | 18 | 27 | 11 | |
| Providna | 97 | 15 | 17 | 15 | 12 | 25 | 13 | ||
| 8 | Kyiv Insurance House | 69 | 6 | 13 | 14 | 7 | 19 | 10 | |
| . | Total 8 SC | 1046 | 132 | 155 | 158 | 206 | 234 | 161 | |
| . | Total | 2351 | 378 | 338 | 372 | 463 | 458 | 342 |
List of insurers with the most complaints in January 2017
| . | Insurer | January |
| 1 | European Insurance Union | 43 |
| 2 | UTSK | 30 |
| 3 | Illichivske | 24 |
| 4 | Dominant | 24 |
| 5 | Leading | 13 |
| 6 | NASC «Oranta» | 11 |
| 7 | Kyiv Insurance House | 10 |
| 8 | UOSK* | 6 |
| . | Total 8 ICs | 161 |
| . | Total | 342 |
* UOSK has been excluded from the MTIBU members since March 2, 2017.
The Regulator also presented a list of insurers whose insurance licenses were revoked and which were excluded from the State Register of Financial Institutions.
What criteria did the Regulator use to select insurers?
The number of applications is more than 2 times the average indicator of applications in the market. At the same time, the average rate of appeals is calculated as the ratio of the total number of appeals regarding the improper fulfillment of obligations by insurance companies (1889) to the number of insurance companies for which such appeals were received (64), 1889/64 = 29.5 * 2 = 59. The calculation of the average rate of appeals is carried out over the last 12 calendar months.
When calculating the average rate of appeals, appeals regarding the actions of insurance companies in which licenses for the right to provide financial services have been canceled or the insurance company has been excluded from the State Register are not taken into account.
Source: Forinsurer
