Insurance businesses remained the most controversial in the financial services industry, with the Financial Ombudsman Institution receiving 1,710 complaints about insurance policies or insurers in the second quarter, up 5 percent from the first quarter and accounting for 76 percent of all disputes, agency data showed.
The agency received 402 complaints about banks, or 18 percent of the 2,249 complaints received, and 129 about securities firms, or 5.7 percent, the data showed.
Life insurers and their products accounted for 1,134 of the complaints, or 66 percent of the complaints against the insurance sector, the data showed.
Taipei Times file photo
Most disputes with life insurers were over compensation, the agency said in a report on Aug. 31.
Other common disputes with life insurers were over the types of treatment required, the surgeries covered by policies and pre-existing conditions, as well as delayed payments by insurers, said the Financial Ombudsman Institution, which investigates consumer disputes against financial services firms and facilitates settlements.
Of the 528 complaints against property insurance firms, the two most common were compensation amounts and the identification of disability ratings, the report said.
The agency received the most complaints about products sold by Hontai Life Insurance Co (宏泰人壽), followed by First Life Insurance Co (第一金人壽) and the Taiwan branch of Cardif Assurance Vie (法國巴黎人壽), it said.
The most property insurance complaints were received about the Taiwan branch of Cardif Assurance Risques Divers (法國巴黎產物保險), followed by AIG Taiwan (美國國際產物保險) and Hotai Insurance Co (和泰產險), it added.
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