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Insurance Department Facts

Administration
2008
2007
2006
2005
2004
FTE's
76
71
63
63
63
Appropriation
$5,919.900  *
$5,306,900
$4,650,100
$4,403,200
$4,190,500
Expenditures
$6,088,011
$5,329,700
$4,717,516
$4,343,553
$4,154,666
Lapsed
$33,467

 

Fraud Division
2008
2007
2006
2005
2004
FTE's
11
10
10
10
10
Expenditures
$2,662,252
$2,214,784
$1,783,209
$2,064,958
$1,380,935

 

Department Fees/ Revenue
2008
2007
2006
2005
2004
Premium Tax
$146,068,819
$136,163,202
$132,079,298
$132,109,221
$117,298,628
Surplus Lines Tax
$7,314,897
$7,004,883
$6,402,342
$5,748,378
$6,278,500
Fees
$6,165,850
$5,834,295
$5,468,209
$5,174,331
$5,128,873
Fraud Assess & Invest. Recovery
$2,831,165
$2,204,490
$1,977,205
$2,187,652
$1,397,991
Captive Insurance Fees
$817,334
$258,598
$168,602
$6,696
N/A
Title Assessment
$68,139
$56,379
$41,283
$39,100
$58,237

 

Department Licenses
2008
2007
2006
2005
2004
Licensed Insurers (COA)
1,604
1,502
1,458
1,140
1,412
New Agent Licenses
14,973
15,796
15,011
12,032
11,568
Licensed Agents
71,077
65,645
58,178
51,478
48,309
Licensed Agencies
6,998
6,552
5,974
5,508
5,072
New Agency Licenses
826
922
793
816
782
New & Cancelled Appts/Desigs
234,561
234,561
218,184
192,409
171,184
Other Entities
968
968
520
443
409

 

The department handled 124,617 consumer and licensee inquiries and formal complaints in FY08. The department received 28,075 rate/form filings during FY08. There were 158 administrative/ disciplinary actions taken against agents, agencies, and companies.

In FY08 the Fraud Division handled 532 investigations/ prosecutions. The Financial Division conducted 9 domestic financial examinations.

*does not include $130,000 authorized FY07 nonlapsing