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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