Colorado consumers recover $7 million in benefits, savings

The Colorado Division of Insurance reported it recovered $7 million on behalf of consumers for the first six months of 2008. Over $4 million in refunds and restored benefits was collected from insurers, and $2.2 million was saved after the Division denied rate increases. Six insurers were required to perform self-audits, which revealed consumers were overcharged or denied benefits worth $99,000. Of the nearly 2,000 written complaints collected, more than 600 were related to life insurance, annuities and health products.