It is our privilege once again to report upon the "Annual Ranking of Automobile Insurance Complaints," prepared by the New York State Department of Financial Services (formerly the New York State Department of Insurance). In addition, following up on our previous column ("SUM LegislationGood News/Bad News," NYLJ, March 12, 2013), we report below on the most recent legislative activity involving Supplementary Uninsured/Underinsured Motorist (SUM) coverage.
2012 Ranking
The 2012 "Annual Ranking of Automobile Insurance Complaints," which is based upon data for the calendar years 2010-2011, ranks all 169 automobile insurance companies doing business in New York State. As was the case last year, this year’s report ranks the individual companies themselves, rather than just the corporate groups of which those companies may be members. This change is intended to give consumers a more accurate picture of their insurers’ performance. As in the past, insurers are ranked based upon a complaint ratio, which is determined by the number of private passenger automobile insurance complaints upheld against them and closed by the Department of Financial Services in 2010, as a percentage of their total private passenger automobile premium volume in New York State.
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