It Figures

$56 Million
The amount returned to Texas insurance consumers over the past year as a result of actions by the Texas Department of Insurance’s Consumer Protec-tion Division, a record amount for the agency. The money came from premium refunds and additional claim payments to consumers that were recovered through TDI investigations of complaints against insurers and agents. TDI’s Consumer Pro-tection staff resolved more than 24,000 insurance complaints; more than 1,800 of those complaints and $26.9 million in payments were related to insurance claims from Hurricane Rita, which struck the Texas coast on Sept. 24, 2005.

$7.5 billion The amount of grant money to be passed out through Loui-siana’s Road Home program, set up to compensate homeowners for uninsured losses of up to $150,000 caused by Hurricanes Katrina and Rita last year. According to Associated Press reports, officials say they expect to meet the goal of approving 10,000 grants by the end of November. Nearly 79,000 applications had been received as of Nov. 9 but only 25 grant awards had gone to closing, meaning the money was officially made available. ICF International is administering the program.

Copyright 2006 Associated Press.

$352,962The amount of money an Arkansas insurance fraud scam ring, whose members recently pled guilty, bilked from insurers by submitting claims via forged paperwork for injuries that never happened. Arkansas Insurance Commissioner Julie Benafield Bowman said that on Oct. 27, 2006, Curtis Moore of Jonesboro entered a negotiated plea of guilty to one count of Class B felony Theft of Property. The Arkansas Insurance Department reported that Moore, Michael Gates, Brenton Gibson and Casiprin Gibson filed the forged paper work with insurance companies for fake injuries. Michael Gates had submitted claims to one company for the surgical removal of an eye on two different occasions. An investigation led by insurance department criminal investigator Bill Bryan resulted in the conviction of all four men and a total of $234,176.67 in restitution.