Insurance Department recovers $1.6M for policyholders, taxpayers

The Connecticut Insurance Department recently announced it recovered nearly $1.6 million for policyholders and taxpayers in the first three months of this year.

The department offers free assistance that is used by thousands of consumers each year, Insurance Commissioner Thomas B. Leonardi said in a statement.

This year, the department”™s Consumer Affairs Unit handled more than 1,700 complaints and inquiries and helped policyholders recoup more than $510,000 from January 1 to March 30, according to a press release.

Most of the funds recovered for policyholders stemmed from complaints related to health, accident, homeowners and life and annuities policies. The breakdown of recovered funds in the first quarter is as follows:

”¢Â Accident, health – $324,000
Ӣ Auto Р$65,000
Ӣ General liability Р$1,400
Ӣ Homeowners, farmers Р$97,200
Ӣ Life, annuities Р$10,800
Ӣ Miscellaneous Р$13,000

“The department is here to assist consumers navigate the complexities of their policies and make sure that carriers deliver on their commitments to their customers,” Leonardi said.

Consumer recoveries and industry fines totaled about $7.3 million last year. The calculation is based on what the policyholder received after the department responded to the caller’s inquiries and complaints.