Miss. Claims Payments Break Records

A record for property and casualty lines claims payment settlements and premium refunds was set by the Consumer Services Division in Mississippi from Jan. 1 to April 30, according to the Insurance Department.

Since Jan. 1 there have been 3,693 claims handled by the Consumer Services Division with $5,211,899 secured in payment. This is a 1,721 percent increase in secured payments over the same time period in 2005.

“We have never collected more than $4 million in all lines combined until now,” Cathy Vernon, division director, said.

There have also been significant increases in payments secured in other lines as well thus far this year, according to Vernon. In A&H the increase is 316 percent.

Source: Mississippi Insurance Department