State Nets $1.6M in Insurance Probes
HARTFORD, Conn. (AP) _ Connecticut Insurance Commissioner Thomas Leonardi says investigations by his agency recovered nearly $1.6 million for policyholders and taxpayers in the first three months of the year.
Leonardi says the state Insurance Department fined carriers just over $1 million for various violations and settlements, including untimely claim payments and improper licensing. The fines were to be deposited in the state’s general fund and some were to be used for consumer outreach and education.
The agency also recovered about $510,000 for consumers after looking into complaints about various insurance policy problems. The department received more than 1,700 complaints and inquiries from Jan. 1 to March 31.
The Insurance Department says consumer recoveries and industry fines totaled about $7.3 million last year.
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