Mississippi Recovers $1 Million for Policyholders in Q1

Consumers in Mississippi have received nearly $1 million in recovered claims payments and premium refunds in the first three months of 2009 thanks to the efforts of the Consumer Services Division of the Mississippi Insurance Department (MID), state officials reported.

This is a nearly 400 percent increase of the amount collected in the first quarter of 2008.

The consumer division works on recovered claims and premium refunds in three specific areas: life insurance, accident and health insurance and property/ casualty insurance.

The largest increase in collections during the first quarter of 2009 was in the property/ casualty area, officials said. This area saw more than a 1,000 percent increase in collections, taking in over $737,000 for consumers despite a 16 percent decrease in the number of claims handled during this same time in 2008.