The Colorado Department of Regulatory Agencies (DORA) regulates various Colorado businesses including insurance companies. DORA consists of eleven divisions.
The Colorado Division of Insurance regulates the conduct of insurance companies. It exists to protect policyholders as well as the Colorado general public, and to make sure that the business of insurance is conducted in accordance with the laws of the state.
The division also regulates:
- fraternal benefit societies;
- title insurance companies; and
- healthcare companies.
The DORA website also stipulates, “Plans for self insurance of motor vehicles and financial responsibility requirements for health care institutions and providers are also reviewed.” These issues could play a part if you’re filing a personal injury claim after a serious accident in Aurora.
Can I file a complaint with DORA?
One of the more common codes of conduct violations is the refusal of an insurance company to approve a valid claim or follow the rules after an individual has filed a claim.
Insurers are required to follow certain laws when handling claims, including:
- investigate a claim;
- pay it in a timely manner; and
- communicate regularly about the process as well as explain why a claim has been denied.
If an insurance company fails to fulfill any of these requirements, it may be acting in bad faith. Such behavior can be extremely frustrating and may delay your recovery of compensation you need and to which you’re entitled.
You may file a complaint with DORA which could then yield a variety of outcomes:
- DORA determines if the law was violated;
- if so, your complaint will be processed;
- then your complaint will be informally solved or investigated more;
- you may be asked to supply more info on the situation;
- the person/agency will receive a copy of your complaint and backing materials; and
- they respond.
Naturally, this is not a short process. If you’re unsure if the insurance company will respond positively to your complaint or if you cannot resolve the issue with the insurer, talk to an attorney who is familiar with bad faith insurance cases.
So should I seek help when dealing with an insurance company?
Any insurance company is capable of helping or hurting your situation. Sometimes it’s hard to know for sure how a situation will play out.
One of the best ways to help avoid all of the hassle of bad faith and filing complaints is to know how to recognize insurance adjusters’ tactics to minimize claims, and to secure representation from an attorney if you suffered serious injury or have a significant amount of damages.
Your attorney can advise you as you communicate with the insurer, or may handle communications for you. A lawyer can also provide guidance regarding filing complaints and pursuing damages from an insurance company who is acting in bad faith.
D.J. Banovitz provides free legal consultation about bad faith insurance cases and can help with personal injury cases if another party’s negligence caused your injuries. Call the Law Office of D.J. Banovitz at 303-300-5060 or fill out our contact form to schedule your consultation so you can learn more about how to handle your personal injury claim and to fight back if an insurance company is taking advantage of you.