N.C. Insurance Commissioner Causey Announces a Record $130 Million Saved or Recovered for North Carolinians in 2023

RALEIGH, North Carolina, Jan. 17 -- The North Carolina Department of Insurance issued the following news release on Jan. 16, 2024:

Insurance Commissioner Mike Causey has announced that the North Carolina Department of Insurance saved or recovered nearly $130 million for North Carolinians in 2023. This amount represents the best single year on record in recoveries since Commissioner Causey took office in January 2017. The recovered funds include those from insurance fraud restitution and external reviews. The department also announced a record 505 arrests via its Criminal Investigations Division.

"I am so proud of the work we do each year on behalf of consumers through our various offices and programs," Commissioner Causey said. "2023 was a very successful year for the department, in which we set many records, and I'm proud of the work our team has given in service to the state."

Last year, the Department:

* Helped North Carolinians obtain $65.9 million in claims from life insurance policies that had been lost.

* Helped policyholders facing hurdles with their insurance companies receive $24.6 million after DOI's consumer experts intervened.

* Recovered $10.5 million in fraudulent expenditures. Insurance fraud costs Americans $308.6 billion annually, according to a 2022 study conducted for the Coalition Against Insurance Fraud. Consumers can report suspected insurance fraud by calling the Department's Criminal Investigations Division at 919-807-6840 or by going to www.ncdoi.gov. 

* Announced a total of 505 arrests through its Criminal investigations Division, as well as 207 convictions. The 505 arrests eclipses the previous high of 498 made in 2019 during Commissioner Causey's administration.

* Helped North Carolinians originally denied necessary medical procedures or prescription drugs receive $1.6 million in reviews or appeals through the SmartNC program. SmartNC helps patients with appeals and sets up independent external reviews for such procedures and medications.

"Putting North Carolinians first has always been our No. 1 goal at the department, and we look forward to continuing this sterling record of service in this same manner in 2024 and beyond," Commissioner Causey added.

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Consumers who have questions about their insurance can visit www.ncdoi.gov or call the department toll free at (855) 408-1212.

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Original text here: https://www.ncdoi.gov/news/press-releases/2024/01/16/commissioner-causey-announces-record-130-million-saved-or-recovered-north-carolinians-2023