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This got me confused. Says he "repaid the proceeds of his scam to cover the city’s insurers". Does that mean it was lower than the amount stolen and just the amount the city paid the insurance? So he paid the premium but not the total amount covered?

edits: another source says he settled with the insurance company which implies its less than the total amount.

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Typically when you have damages and are insured, then the insurance pays you and then goes after the original claim to get their money back. That is, the party that had the original damage leaves the claim to the insurance which then deals with getting the money back from the perpetrator while the original victim already got their money from the insurance.

This also moves the risk of the perpetrator not being able to pay the damage. Now the victim does not carry that risk anymore. The insurance does. Which is their value proposition.

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