RALEIGH — North Carolina Insurance Commissioner Mike Causey announced Friday the arrest of David Keith Phillips, 30, of Carl Garner Road, Newport. Mr. Phillips was charged with insurance fraud, a felony.

According to the arrest warrant, Mr. Phillips reported his Taurus .380 pistol stolen to the Carteret County Sheriff’s Office prior to adding the pistol to his USAA Insurance valuable personal property policy Aug. 23. He filed the claim Sept. 9, according to the warrant.

Special agents with the department of insurance’s criminal investigations division, along with CCSO deputies, arrested Mr. Phillips Nov. 8. He was released on $2,500 unsecured bond.

Fraud is felt every time consumers pay their insurance premiums, NCDOI said in Friday’s release. Mr. Causey estimates fraud costs North Carolinians between 15 and 20 cents on every dollar paid on insurance premiums.

"Insurance fraud affects our economy.  Not only does it damage insurance companies, it cheats businesses and consumers too," he said. "This kind of white-collar crime is unacceptable. That's why I've doubled the number of Special Agents to investigate insurance fraud. Cracking down on fraud will put more money in the pockets of businesses and consumers.”

To report suspected fraud, contact the NCDOI Criminal Investigations Division at 919-807-6840.  Callers may remain anonymous.  Information is also available at ncdoi.gov.

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