Insurance Department Resources Report Volume 1

Transcription

1 2014 Insurance Department Resources Report Volume 1

2

3 201 Insurance Department Resources Report Volume One 201

4 The NAIC is the authoritative source for insurance industry information. Our expert solutions support the efforts of regulators, insurers and researchers by providing detailed and comprehensive insurance information. The NAIC offers a wide range of publications in the following categories: Accounting & Reporting Information about statutory accounting principles and the procedures necessary for fi ling fi nancial annual statements and conducting risk-based capital calculations. Consumer Information Important answers to common questions about auto, home, health and life insurance as well as buyer s guides on annuities, long-term care insurance and Medicare supplement plans. Financial Regulation Useful handbooks, compliance guides and reports on fi nancial analysis, company licensing, state audit requirements and receiverships. Legal Comprehensive collection of NAIC model laws, regulations and guidelines; state laws on insurance topics; and other regulatory guidance on antifraud and consumer privacy. Market Regulation Regulatory and industry guidance on market-related issues, including antifraud, product fi ling requirements, producer licensing and market analysis. NAIC Activities NAIC member directories, in-depth reporting of state regulatory activities and offi cial historical records of NAIC national meetings and other activities. Special Studies Studies, reports, handbooks and regulatory research conducted by NAIC members on a variety of insurancerelated topics. Statistical Reports Valuable and in-demand insurance industry-wide statistical data for various lines of business, including auto, home, health and life insurance. Supplementary Products Guidance manuals, handbooks, surveys and research on a wide variety of issues. Capital Markets & Investment Analysis Information regarding portfolio values and procedures for complying with NAIC reporting requirements. White Papers Relevant studies, guidance and NAIC policy positions on a variety of insurance topics. For more information about NAIC publications, view our online catalog at: All rights reserved. ISBN: Printed in the United s of America No part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or any storage or retrieval system, without written permission from the NAIC. NAIC Executive Offi ce 444 North Capitol Street, NW Suite 700 Washington, DC NAIC Central Offi ce 1100 Walnut Street Suite 1500 Kansas City, MO NAIC Capital Markets & Investment Analysis Offi ce One New York Plaza, Suite 4210 New York, NY

5 2014 Insurance Department Resources Report Volume One Introduction Continued public interest in insurance regulation and interest by the U.S. Congress has focused attention on the activities and resources of state insurance departments. In the past, state insurance departments have experienced significant changes in available resources and considerable enhancement of their ability to meet the challenges of regulating an increasingly complex and competitive industry. This report is the 28th in an annual series published by the NAIC. It contains key statistics on the resources and regulatory activities of the members of the NAIC, which include the 50 states, the District of Columbia, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands. The data presented in this report were obtained primarily through an extensive survey completed by each of the departments. Beginning with 2010 edition, in order to provide the NAIC membership with important information as soon as possible, the report is released in two volumes. The second volume primarily encompasses the premium data (such as premium by line of business) not available at the time of publishing the first volume. The 2014 IDRR Volume One is organized into five key sections: Staffing; Budget and Funding; Examination and Oversight; Insurance Producers; and Consumer Services and Antifraud. Valuable statistics provided by each jurisdiction include the number of departmental staff, annual budgets, revenues collected, number of insurers and producers, and the number of consumer complaints filed. Unless otherwise indicated, the statistics presented are for calendar year Every effort has been made to compile the statistics on a consistent basis. However, because of differences between departments, this is not always possible. Where known, these differences are explained in the Technical Notes located at the end of the report. The efforts and cooperation of the insurance commissioners and their staffs in providing this information are greatly appreciated. Please send any questions regarding this report to researchrequest@naic.org. Links to this report and other NAIC reports can be found on the NAIC website at: NAIC Publications. Overview Overall, insurance department full-time equivalent staffing levels increased 0.02% from the 2013 level. Twenty-two departments increased staffing, and 17 decreased staff levels. The remaining departments either stayed the same or did not have sufficient data to determine the degree of change. The top five departments based on staffing levels were Texas, California, Florida, New York, and North Carolina. Insurance department contractual staff (those hired for specific tasks but not employees of the insurance departments) decreased by 13.25% from 2013, and was down by 35.63% since Budget levels for fiscal year 2016 are expected to rise by 1.5% from 2015 amounts and to increase by 7.0% since Total projected fiscal year 2016 budgets total nearly $1.4 billion. California reported the largest 2016 budget, which is $48.0 million greater than the second-largest 2016 budget (New York). Thirty-two states reported increased 2016 budget amounts from their 2015 reported budgets. Revenues collected from the insurance industry increased 7.08% since 2013 to $22.0 billion. Total taxes collected increased by 6.8%. The number of U.S. domestic insurers increased from 6,086 to 6,118 companies since In years prior to 2008, captives may be included in total domestic insurer numbers. Captives are reported in the second volume of the IDRR. The total number of company examinations completed was 2,021. There were 260 liquidations in progress at year-end, as well as 36 rehabilitations in progress.

6 Licensed resident producers numbered 2.0 million individuals and 220,113 entities. Non-resident producers consisted of 5.2 million individuals and 361,030 entities. Meanwhile, 8,650 fines and 684 restitutions were levied against insurance producers; 1,201 licenses were suspended; and 1,884 licenses were revoked. insurance departments received nearly 280,000 official complaints and 1.9 million inquiries. Forty-two states had separate criminal fraud investigation units, and 53 jurisdictions had company and producer licensing information available online.

7 Table of Contents Volume One Staffing Page 1 Commissioners Total Full-Time Equivalent Staff Figure 1: Insurance Department Staff Figure 2: Insurance Department Staff Breakdown Full-Time Equivalent Staffing By Position Total Contractual/Intergovernmental Staff Contractual/Intergovernmental Staff By Position Full-Time Equivalent Salary Range By Position Budget and Funding 27 Figure 3: Aggregate Insurance Department Budgets Figure 4: Annual Budget Growth Rates Insurance Department Budgets Fiscal Years s in Descending Order of 2016 Budget Funding and Expenses Revenues Examination and Oversight Figure 5: Number of Domestic Insurers Figure 6: Number of Domestic Insurers in Number of Insurers Number of Domestic Insurers by Type Number of Licensed Foreign Insurers by Type Financial and Market Conduct Exams Completed Financial Exams Market Conduct Exams Combined Financial/Market Conduct Exams Actions Taken Against Companies in Formal Hearings Supervisions, Receiverships and Companies in Run-Off Insurance Producers 51 Licensed Producers Actions against Producers

8 Consumer Services and Antifraud 57 Consumer Complaints/Inquiries Fraud Investigation Availability of Consumer Information Consumer Access to Insurance Departments Insurance Department Titles Technical Notes

9 2014 Insurance Department Resources Report 1 Staffing insurance departments are continually changing to accommodate the varying size and nature of the insurance industry. This requires a change in the makeup of the insurance department staff, whose job is to regulate the insurance industry. Insurance Commissioner It is the job of the state insurance commissioner (superintendent or director in some states) to oversee the regulation of the insurance industry in his/her state. The majority of insurance commissioners are appointed to their positions. However, commissioners in 12 of the 56 states and territories are elected to their positions by a vote of the general public. These different approaches to selection cause the length of a commissioner s term to vary from state to state, with many serving at the pleasure of the governor. The duties of the commissioner also differ between states. In the majority of states, the insurance department is a separate agency, allowing the commissioner to concentrate solely on insurance regulation. In other states, the commissioner s responsibilities also include oversight of other areas. Examples of other offices held by state insurance commissioners include that of fire marshal, state auditor and commissioner of securities. Staff It is the job of each state s insurance department to ensure the solvency of insurance companies doing business in the state, to license insurance producers, to assist insurance consumers, and to protect both consumers and companies from insurance fraud. Ensuring the solvency of insurance companies is the primary function of insurance regulators. Solvency monitoring systems, such as the Insurance Regulatory Information System (IRIS) and risk-based capital (RBC), are used to identify and prioritize companies for detailed review, either through desk audits or financial examinations. Insurance companies are generally audited every three to five years, but evidence of potential impairment can also trigger an audit. Historically, a large portion of each insurance department s staff has been employed for solvency monitoring and financial examinations. As the number of insurance companies and the complexity of their business dealings have increased, departments have increased the number and training of financial examiners and analysts. Other important charges of state insurance departments are the licensing of insurance producers and the regulation of rates and policy forms. Each state sets its own licensing requirements for companies, agents, brokers, etc., and has the authority to revoke licenses for illegal or unethical conduct. Each state also sets its own rate and policy form filing requirements. The task of assisting insurance consumers takes many forms. Insurance department staff members answer consumers questions, investigate complaints against insurance agents and companies, and perform market conduct examinations to ensure that insurance producers and companies are dealing with consumers in a fair and consistent manner. Just as many companies contract services to use their limited resources more efficiently, the state insurance departments also use contract staff. s also use the services of employees from other state agencies. For instance, some states do not have attorneys on staff; instead, they use the services of their state s attorney general s office. Insurance departments also use the services of other state agencies in the areas of liquidations, receiverships, and examinations, among others. With the expansion of technology, the state insurance regulators need for employees with computer expertise has grown. The electronic communication link between on-site examiners at insurance companies and internal insurance department staff has greatly improved the efficiency of the examination process. The ability for insurance department staff to electronically access NAIC database information is also a benefit for state regulators. Staffing data were compiled as of Dec. 31, In certain instances, employees of a department may perform work in more than one of the categories listed. For example, company examiners might perform both financial and market conduct examinations in some states. When such a situation occurs, an attempt is made to match the amount of time the employee spends doing each function and report it as such. Therefore, if half of an examiner s time is spent doing financial exams and the other half is spent performing market conduct exams, it is recorded as 0.5 financial examiners and 0.5 market conduct examiners in the relevant tables.

10 2 Staffing Table 1 Commissioners Elected/ Appointed Other Offices Held Alabama Appointed Ex Officio member of AL Securities Commission Alaska Appointed American Samoa Appointed Arizona Appointed Arkansas Appointed California Elected Colorado Appointed Connecticut Appointed Delaware Elected Dist. of Columbia Appointed Florida Appointed Georgia Elected Fire Marshal, Industrial Loan Commissioner Guam Appointed Banking Commissioner Hawaii Appointed Idaho Appointed Illinois Appointed Indiana Appointed Iowa Appointed Securities Administrator Kansas Elected Kentucky Appointed Louisiana Elected Maine Appointed Maryland Appointed Massachusetts Appointed Michigan Appointed Minnesota Appointed Mississippi Elected Fire Marshal Missouri Appointed Montana Elected Auditor, Member of the Land Board, Commissioner of Securities and Insurance Nebraska Appointed Chair, Claims Board Nevada Appointed New Hampshire Appointed New Jersey Appointed Commissioner of Banking & Real Estate Commission New Mexico Appointed New York Appointed North Carolina Elected Fire Marshal North Dakota Elected N. Mariana Islands Appointed Ohio Appointed Lt. Governor Oklahoma Elected Oregon Appointed Pennsylvania Appointed Puerto Rico Appointed Rhode Island Appointed Superintendent of Banking South Carolina Appointed South Dakota Appointed Tennessee Appointed Fire Marshal Texas Appointed U.S. Virgin Islands Elected Utah Appointed Vermont Appointed Virginia Appointed Washington Elected West Virginia Appointed Wisconsin Appointed Wyoming Appointed

11 Table Insurance Department Resources Report 3 Total Insurance Department Staff * Percent Alabama % Alaska % American Samoa Arizona % Arkansas % California 1, , , , , % Colorado % Connecticut % Delaware % Dist. of Columbia % Florida % Georgia % Guam % Hawaii % Idaho % Illinois % Indiana % Iowa % Kansas % Kentucky % Louisiana % Maine % Maryland % Massachusetts % Michigan % Minnesota % Mississippi % Missouri % Montana % Nebraska % Nevada % New Hampshire % New Jersey % New Mexico % New York % North Carolina % North Dakota % N. Mariana Islands Ohio % Oklahoma % Oregon % Pennsylvania % Puerto Rico % Rhode Island % South Carolina % South Dakota % Tennessee % Texas 1, , , , , % U.S. Virgin Islands Utah % Vermont % Virginia % Washington % West Virginia % Wisconsin % Wyoming % Total 11, , , , , % *Excludes contractual employees

12 4 Staffing Figure 1 Insurance Department Staff Full-Time Equivalent Employees 11,620 11,600 11,580 11,560 11,540 11,520 11,500 11,480 Staff by Year ,531 11,529 11,532 11,575 11,601 Figure 2 Insurance Department Staff Breakdown All Other (including Commissioner), 13.7% Executive, 5.8% Administration, 7.2% Information Systems/Technical Services, 5.0% Legal, 6.0% Licensing, 6.1% Actuarial, 10.5% Consumer Affairs, 12.8% Antifraud, 10.4% Market Conduct Regulation, 4.2% Financial Regulation, 18.3%

13 2014 Insurance Department Resources Report 5 Table 3 Insurance Department Staffing - By Position Executive Deputy/Assistant Alabama Commissioners Media 0.50 Public Policy 0.50 Support Staff 1.50 Lawyers 5.00 Support Staff 4.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total Legal

14 6 Staffing Table 3 (continued) Insurance Department Staffing - By Position Administration Supervisory Staff Human Resources Business Office Revenue Other Administrative Support Staff Alabama Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

15 2014 Insurance Department Resources Report 7 Table 3 (continued) Insurance Department Staffing - By Position Actuarial Supervisory Rate/Form Rate/Form Staff Actuaries - L/H Actuaries - P/C Analysts - L/H Analysts - P/C Support Staff Alabama Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

16 8 Staffing Table 3 (continued) Insurance Department Staffing - By Position Financial Regulation Supervisory Financial Financial Receivership Guaranty Captive/Spec Alabama Staff 2.25 Examiners Analysts 7.10 Personnel 5.50 Fund 0.00 Insurance 0.45 Support Staff 3.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

17 2014 Insurance Department Resources Report 9 Table 3 (continued) Insurance Department Staffing - By Position Market Conduct Regulation Supervisory Market Conduct Market Conduct Managed Care Alabama Staff 1.00 Examiners 2.00 Analysts 2.00 Org. Oversight 0.45 Support Staff 0.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

18 10 Staffing Table 3 (continued) Insurance Department Staffing - By Position Antifraud/Enforcement Supervisory Criminal Fraud Civil Fraud Enforcement Alabama Staff 0.00 Investigators 3.00 Investigators 1.00 Personnel 0.00 Support Staff 0.25 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

19 2014 Insurance Department Resources Report 11 Table 3 (continued) Insurance Department Staffing - By Position Consumer Affairs Supervisory Complaint Consumer Assistance Senior Health Healthcare Alabama Staff 1.00 Investigators 8.00 Advocates 0.00 Personnel 2.00 Ins. Program 0.00 Appeals 0.00 Support Staff 1.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

20 12 Staffing Table 3 (continued) Insurance Department Staffing - By Position Licensing Supervisory Producer Company Other Alabama Staff 2.00 Licensing 6.00 Licensing 0.75 Licensing 2.00 Support Staff 3.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

21 2014 Insurance Department Resources Report 13 Table 3 (continued) Insurance Department Staffing - By Position Information Systems/Technical Services Other Staff Total Supervisory Systems/LAN Computer Data Department Alabama Staff 3.00 Personnel 3.75 Prog./Analysts 3.00 Personnel 0.75 Support Staff 0.25 All Other* Employees Alaska American Samoa Arizona Arkansas California , Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas , U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total , , *Includes the state insurance commissioner (superintendent or director in some states)

22 14 Staffing Table 4 Total Contractual/Intergovernmental Staff Percent Alabama Alaska % American Samoa % Arizona % Arkansas % California % Colorado % Connecticut % Delaware % Dist. of Columbia % Florida % Georgia % Guam % Hawaii % Idaho % Illinois % Indiana % Iowa % Kansas % Kentucky % Louisiana % Maine % Maryland % Massachusetts % Michigan % Minnesota % Mississippi % Missouri % Montana % Nebraska % Nevada % New Hampshire % New Jersey % New Mexico % New York % North Carolina % North Dakota % N. Mariana Islands % Ohio % Oklahoma % Oregon % Pennsylvania % Puerto Rico % Rhode Island % South Carolina % South Dakota % Tennessee % Texas % U.S. Virgin Islands % Utah % Vermont % Virginia Washington % West Virginia % Wisconsin % Wyoming % Total , , %

23 Table Insurance Department Resources Report 15 Contractual/Intergovernmental Staff - By Position Rate/Form Rate/Form Administration Lawyers Actuaries - L/H Actuaries - P/C Analysts - L/H Analysts - P/C Alabama Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

24 16 Staffing Table 5 (continued) Contractual/Intergovernmental Staff - By Position Criminal Financial Financial Receivership Market Market Fraud Alabama Examiners 0.00 Analysts 0.00 Personnel 0.00 Examiners 0.00 Analysts 0.00 Investigators 0.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

25 Table 5 (continued) 2014 Insurance Department Resources Report 17 Contractual/Intergovernmental Staff - By Position Civil Information Data Fraud Enforcement Consumer Systems Processing Alabama Investigators 0.00 Personnel 0.00 Advocates 0.00 Personnel 0.00 Personnel 0.00 All Other 0.00 Total 1.00 Alaska American Samoa Arizona Arkansas California Colorado Connecticut Delaware Dist. of Columbia Florida Georgia Guam Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota N. Mariana Islands Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas U.S. Virgin Islands Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Total

26 18 Staffing Table 6 Insurance Department Salary Range - By Position Executive Legal Deputy/Assistant Commissioners Media Public Policy Lawyers Alabama Low 45,202 High 152,618 Low 52,663 High 80,287 Low 52,663 High 80,287 Low 45,502 High 105,403 Alaska 91, , American Samoa Arizona 55, ,973 39,983 71,564 55,203 97,463 46,932 94,763 Arkansas 67, ,791 55,156 89, ,029 92,958 California 53, ,696 53,856 67,416 34,476 77,244 57, ,368 Colorado 82, ,032 57,168 83,676 71, , Connecticut 80, ,651 86, ,362 80, ,428 70, ,569 Delaware 75, ,650 38,515 86,698 54,017 81,025 83, ,211 Dist. of Columbia 115, ,985 71, , , ,133 Florida 45, ,347 43,507 96,251 34, ,515 39, ,166 Georgia 52, , ,000 98,000 Guam Hawaii 36,000 89,000 40,000 76, ,000 79,000 Idaho 53, ,400 31,100 57,200 49,100 90, Illinois 74, , ,996 72,996 63,000 99,000 Indiana 72, ,740 42,000 58, ,574 76,500 Iowa 76, , ,456 82,659 55, ,555 Kansas 52,000 94,500 32,000 45,000 62,000 80,000 53,275 73,000 Kentucky 61,500 82,926 34,252 60,987 78,947 78,947 50,400 90,435 Louisiana 110, ,154 27,664 87,402-84,999 44, ,078 Maine 60,112 82,805 40,248 54, ,712 82,805 Maryland 77, ,136 40, ,557 45, ,557 63, ,711 Massachusetts 68, , ,834 67,169 64, ,328 Michigan 117, ,926 71, ,272 49,026 86,715 60, ,374 Minnesota 87, ,593 63,162 91,350 46,750 97,969 57, ,035 Mississippi 63, ,150 41, ,265 67, ,163 47,100 82,425 Missouri 79, ,500 40,380 62,900 72,500 75,400 44,000 88,500 Montana 81, ,486 56,238 70,298 46,732 55,650 81, ,437 Nebraska - 103,742 33,040 47, ,993 95,035 Nevada 86,734 97,901 45,560 67,693 61,951 93,187 86,734 97,901 New Hampshire 62, ,729 57,603 79,072 57,933 87,091 62,985 87,091 New Jersey 106, ,000 60,909 87, , ,343 New Mexico 58, ,150 31,782 55,307 39,686 69,035 44, ,150 New York 126, ,000 49, ,000 85, ,000 75, ,000 North Carolina 65, ,499 48,195 79, , ,499 North Dakota - 112,442 48,912 80, ,378 N. Mariana Islands Ohio 83, ,286 47,923 75,005 50,960 81,744 63,814 92,310 Oklahoma 80, ,000 46,500 80,000 52,500 70,000 55,000 99,000 Oregon 72, , ,828 92,412 52,296 88,296 Pennsylvania 48, ,981 51,443 89,213 66,973 66,973 73, ,844 Puerto Rico 78,396 99, ,100 73,140 36,600 91,716 Rhode Island ,762 91,519 South Carolina 76, ,657 47,092 87,125 47,092 87,125 31, ,987 South Dakota 63,485 74, ,863 65,776 Tennessee 101, ,960 44,400 79,920 53,964 97,140 53, ,692 Texas 83, ,458 55, ,967 39, ,987 45, ,445 U.S. Virgin Islands Utah 53, ,700 40,500 57, ,900 91,500 Vermont 99, , Virginia 69, , , ,691 62, ,307 Washington 96, ,000 60,000 80,000 65,000 92,000 75,000 96,000 West Virginia 35, ,888 26,160 48, , ,888 Wisconsin 43, , , ,002 49, ,667 Wyoming 84, , , ,588

27 2014 Insurance Department Resources Report 19 Table 6 (continued) Insurance Department Salary Range - By Position Administration Supervisory Staff Human Resources Business Office Revenue Other Low High Low High Low High Low High Low High Alabama 47,458 90,725 31,488 47,758 29,954 62,530 43,339 76,349 24,595 36,490 Alaska 43, , , ,636 50, ,928 American Samoa Arizona 39,983 68, ,008 49,561 33,435 59, Arkansas 39,199 96,212 25,266 59, California 47,064 94,224 29,472 67,416 29,616 67,416 34,476 70,800 28,932 84,816 Colorado 45, , ,080 83,676 53,172 77, Connecticut 74,148 95,363 54,171 70,310 39,709 83, Delaware 54,017 99,263 31,440 47,160 33,638 50,456 31,440 50,456 25,663 38,495 Dist. of Columbia 93, ,512 53,585 98, ,827 74,727 Florida 46, ,723 38,660 75, Georgia 41,808 73,323 61,090 98,800 37,000 75,000 37,000 92,000 61,090 98,800 Guam Hawaii ,000 43, ,000 85,000 Idaho 34,900 81,800 27,600 50,800 23,600 43,500 23,600 57, Illinois 85, ,160 65,532 94, ,424 98,424 51,852 85,296 Indiana ,000 42,000 28,000 40,000 28,000 38,000 Iowa ,091 71, , ,555 Kansas 50,000 61,200 34,760 52, ,000 62,000 33,000 43,500 Kentucky 55,081 55, ,077 40,709 Louisiana 24, ,186 27,664 66, ,589 81,682 18,450 58,420 Maine 30,971 43, ,776 37,086 28,766 40, Maryland 38, ,557 40,547 78,507 28,139 56,674 35,840 73, Massachusetts ,100 61,037 43,100 61,037 44,044 62,140 Michigan 86, ,889 45,864 67,059 49,026 80,621 49,026 80,621 37,586 73,154 Minnesota 68, ,940 37,083 91,350 34,389 73, Mississippi 39,363 99,701 48,963 85,684 41,255 72,196 33, , Missouri 78,500 95,540 40,380 51,593 23,160 58, ,208 35,860 Montana - 81,720-56, ,300 Nebraska 36,200 81,224 34,455 51,686 32,635 46, Nevada New Hampshire 51,772 70,063 48,496 65,578 26,149 40,170 61,483 92, New Jersey 83, ,374 30, ,810 47,107 53,576 40,569 50,645 43, ,891 New Mexico 39, ,150 44,782 77,917 23,525 77,917 23,525 61,568 21,195 45,656 New York 84, ,000 44,000 96,000 28,000 96,000 42,000 86,000 28,000 96,000 North Carolina 50, ,852 30,856 69,177 31,904 96, ,904 82,872 North Dakota ,552 60,912 36,552 80, N. Mariana Islands Ohio 52,832 76,107 39,915 62, ,292 66, Oklahoma - 80,000-67,835-40,000 45,000 60,000 41,000 67,500 Oregon Pennsylvania 51,443 74,758 48,118 76,519 42,113 60,812 36,127 45, Puerto Rico 38,484 65,160 22,800 37, ,500 37,020 16,080 36,036 Rhode Island South Carolina 38, ,012 26,139 48,361 26,139 71,608 26,139 48,361 31,805 58,848 South Dakota ,280 33,280 44,387 48,000 Tennessee Texas 63, ,587 26, ,967 36,976 88,188 26,332 88,188 23, ,543 U.S. Virgin Islands Utah ,600 62,600 20,600 34,500 Vermont , , Virginia 50, , ,377 56,764 38,318 83, Washington 38,000 93,000 43,000 62,000 33,000 42, ,000 65,000 West Virginia 23,724 84,852 23,724 64,812 20,472 48,396 22,584 68, Wisconsin , , Wyoming ,448 62,

28 20 Staffing Table 6 (continued) Insurance Department Salary Range - By Position Actuarial Rate/Form Rate/Form Supervisory Staff Actuaries - L/H Actuaries - P/C Analysts - L/H Analysts - P/C Alabama Low - High - Low 100,198 High 152,618 Low - High - Low 37,390 High 65,690 Low 47,758 High 72,686 Alaska , ,972 97, ,972 54, ,500 54, ,500 American Samoa Arizona 50,891 87,133 55,203 94,763 55,203 94,763 43,240 73,779 36,814 73,779 Arkansas 55,156 89, ,861 62,115 33,861 62,115 California , ,304 93, , ,016 89,352 Colorado 65, ,644 46,008 92,100 46,008 92,100 39,816 77,820 46,008 77,820 Connecticut 82, , , , , ,021 74,148 95,363 74,148 95,363 Delaware ,638 50,456 33,638 50,456 Dist. of Columbia 93, ,512 82, , , ,468 82, ,468 Florida 56, ,103 74, ,443 74, ,443 32,697 74,248 32,697 74,248 Georgia 65,000 92,000 65, ,000 50,653 88,400 50,653 88,400 42,000 66,480 Guam ,762 61,143 33,911 67,493 Hawaii , , , ,000 44,000 71,000 44,000 71,000 Idaho 44,500 81,800 53, , ,900 64, Illinois 102, ,572 49, ,664 54, ,664 41,772 70,956 49,368 70,956 Indiana 60,580 71,000 94, ,000 90, ,000 40,000 60,000 42,000 50,000 Iowa 96, , , , ,057 89,148 55,057 85,155 Kansas 48,000 61,200 95, , ,510 58,000 32,510 57,620 Kentucky 45,423 71, ,523 65,558 38,770 56,045 Louisiana - 239, , , ,495-99,485 Maine 40,248 72,883 84, ,189 84, ,189 34,778 67,226 40,248 54,662 Maryland 77, ,106 43,153 68,887 52, ,711 43,153 89,320 40,547 83,726 Massachusetts 67, ,931 47, ,875 61, ,131 42,723 68,257 42,723 68,257 Michigan 71, , ,578 73,154 42,578 73,154 Minnesota 59,028 97, , , , ,383 43,681 85,712 46,750 76,797 Mississippi 45, , ,722 72,196 28,555 61,813 Missouri 53,400 60,085 63, ,000 63, ,000 29,976 57,307 32,628 41,940 Montana - 65,469-85,000-97,679 43,917 47,871 43,917 44,576 Nebraska 63,737 95,607 48, , , ,938 38,603 55,492 38,603 55,492 Nevada 61,951 93, , , , ,081 54,204 81,140 54,204 88,949 New Hampshire 62, ,424 77, ,424 65,599 87,091 52,845 72,189 52,845 82,797 New Jersey 100, ,118 87, ,267 71, ,906 47, ,891 45, ,891 New Mexico 39, ,000 35, ,000 39,686 69,035 23,525 61,568 35,381 61,568 New York 103, ,000 42, ,000 42, ,000 75, ,000 75, ,000 North Carolina 50, ,927 52, ,927 52, ,927 42,667 75,719 42,667 75,719 North Dakota 64, , , ,496 44,100 87,972 44,100 73,500 N. Mariana Islands Ohio 76, ,013 41,350 97,406 60, ,987 49,650 88,462 49,650 88,462 Oklahoma 48,300 62,425-55, ,000 32,000 43,000 Oregon 59,748 97,044 65, ,983 65, ,983 52,296 76,560 52,296 76,560 Pennsylvania 76, ,199 67, ,316 40, ,316 34,817 69,477 51,052 52,186 Puerto Rico 44,700 79,704 27,300 44,508 28,500 28,500 23,400 30,420 23,400 30,420 Rhode Island 75,435 85, ,540 68,548 60,540 68,548 South Carolina 38,703 71,608 47, ,987 47, ,987 31,805 58,848 31,805 58,848 South Dakota ,483 43,638 39,520 43,638 Tennessee 47,626 70, ,276 58,020 36,276 58,020 Texas 111, ,195 48, ,987 48, ,458 27,840 88,188 31, ,967 U.S. Virgin Islands Utah 49,000 73,600 77, , ,500 60,900 40,500 60,900 Vermont 64, , ,824 70,013 44,824 70,013 Virginia 62, ,072 82, , ,324 83,252 41,324 83,252 Washington 63,000 88, , , , ,000 39,000 68,000 39,000 68,000 West Virginia 37,140 77, , ,364 31,164 61,128 33,036 61,128 Wisconsin 54, , , ,373 35, ,373 Wyoming 54,074 81, ,536 74,304 49,536 74,304

29 Table 6 (continued) 2014 Insurance Department Resources Report 21 Insurance Department Salary Range - By Position Financial Regulation Supervisory Financial Financial Receivership Guaranty Captive/ Staff Examiners Analysts Personnel Fund Specialty Ins. Low High Low High Low High Low High Low High Low High Alabama 64, ,403 35,590 97,766 35,590 97,766 30,725 72, ,078 97,766 Alaska 81, ,864 59, , American Samoa Arizona 46, , ,435 80, ,814 73,779 33,435 56,954 Arkansas 41, ,919 35,554 96,212 35,554 72, California 36, ,300 37,560 89,352 56, , Colorado 71, ,420 49, ,648 53,172 92, Connecticut 85, ,104 74, ,372 51, ,372 77,820 99, ,148 99,857 Delaware 31, , ,638 81, ,638 81,025 Dist. of Columbia 93, ,512 57,960 91,750 82, , , ,979 Florida 47, ,097 38,660 68,973 29,344 90,803 26, , Georgia 47,920 80, ,000 60, Guam ,911 61,143 40,762 67, Hawaii 58,000 86,000 58,000 86,000 48,000 79, ,000 79,000 Idaho 53,300 98, ,400 90, Illinois 102, ,664 60, ,308 47, , Indiana 51, , ,296 48, Iowa 72, ,196 44,220 89,148 44,220 89, Kansas 69,500 85,000 60,500 84,000 37,980 61, Kentucky 52,369 52, ,434 54, ,771 61,771 Louisiana 44, ,595 29,598 87,402 29,598 81, Maine 47,091 72,883 31,928 64,792 31,928 64, Maryland 67, ,711 40,547 89,320 48,920 89, Massachusetts 67, ,074 42,723 68,257 47,343 91, Michigan 59,051 94,224 46,821 80,517 46,821 80,517 71, , ,328 94,224 Minnesota 61,158 97,969 51,782 76,797 43,681 76, Mississippi 56,972 99, ,300 84, Missouri 53,372 96,000 48,000 89,607 29,976 47,892 45,000 61, ,624 81,690 Montana - 89,187 46,376 68,041 45,480 49, ,098 61,090 Nebraska 68, ,344 45,560 99,664 32,635 90, , ,439 Nevada 61,951 93,187 49,694 88,949 45,560 74, New Hampshire 77, ,424 55,165 82,797 55,165 90, New Jersey 86, ,979 74, ,558 49, ,979 70,000 80, ,000 93,000 New Mexico 39,686 88,525 35,381 61, New York 103, ,000 42, ,000 42, , North Carolina 53, ,065 48, ,176 48, ,176 53, , , ,065 North Dakota 64, ,220 40,560 67,608 52,788 87, N. Mariana Island Ohio 63, ,790 92, ,750 92, , , ,790 Oklahoma 43,500 71, ,000 52, Oregon 59,748 97,044 45,372 80,292 49,932 80, ,828 80,292 Pennsylvania 51,443 87,257 40,039 89,213 40,039 69, Puerto Rico 38,148 67,860 27,300 43,776 23,820 42, ,396 33,396 Rhode Island 80,762 91,519 45,071 82,778 45,071 82, South Carolina 47, ,012 31,805 71,608 31,805 58, , ,012 South Dakota ,264 43, Tennessee 65, ,000 44,076 90,012 44,076 90, , ,208 Texas 83, ,445 48, ,445 48, ,445 27, , U.S. Virgin Island Utah 51,800 91,500 37,400 82,100 37,400 66, ,400 66,100 Vermont 64, ,608 53,560 84,011 44,824 74, ,560 84,011 Virginia 62, ,072 41,324 83,252 41,324 83, Washington 83,000 96,000 62,000 85,000 53,000 98, West Virginia 41,736 87,612 47,352 93,756 29,400 68, Wisconsin 54, ,964 35, ,250 35, , Wyoming 65,964 98,940 54,072 81,096 38,568 57,

30 22 Staffing Table 6 (continued) Insurance Department Salary Range - By Position Market Conduct Regulation Market Conduct Market Conduct Managed Care Supervisory Staff Examiners Analysts Organization Oversight Alabama Low 64,078 High 97,766 Low 41,258 High 69,098 Low 41,258 High 69,098 Low 35,590 High 53,995 Alaska American Samoa Arizona 43,240 87, ,240 73,779 46,932 94,763 Arkansas 79,082 98,853 35,554 96, California 65,652 88,836 38,016 81,336 38,016 81, Colorado 65,916 99,924 46,008 92,100 49,464 77, Connecticut 82, ,280 74,148 95,363 74,148 95, Delaware 44,094 66,140 38,515 57, Dist. of Columbia Florida 46, , ,697 70, Georgia 57,000 97,200 37,000 62,400 37,000 62, Guam ,762 67, Hawaii ,000 85, Idaho ,500 81, Illinois ,644 88,704 98,424 98, Indiana 60,000 75,000 50,000 56, Iowa ,940 77, Kansas 53,000 65,000 33,760 58,000 33,760 45, Kentucky 60,669 60, ,128 56, Louisiana 41,538 87,402 25,854 58,240 25,854 58, Maine 47,091 64,792 40,248 54, Maryland 48,920 95,297 40,547 73,541 43,153 68, Massachusetts 41, , ,266 97, Michigan 56, ,272 48,942 70,179 45,864 67,059 49,026 73,154 Minnesota 63,559 94,566 50,112 73, Mississippi 56,972 99, Missouri 92,187 95,192 43,200 86, Montana - 86,200 50,529 52, Nebraska 56,307 76,960 35,734 62,360 41,292 62, Nevada 61,951 93, New Hampshire 65,949 90,285 60,138 86,541 60,138 86, New Jersey 73,868 99,729 53, ,040 63,565 87, New Mexico ,229 61,568 New York 103, ,000 42, ,000 42, , North Carolina 50,238 99,446 42,667 82,875 42,667 75, North Dakota N. Mariana Islands Ohio 58,094 92,310 45,282 72,842 49,650 72, Oklahoma - 65, ,500 40, Oregon 65,904 97, ,828 80, Pennsylvania 64,176 87,257 45,692 62,259 49,898 52, Puerto Rico 55,932 55,932 40,668 40,668 27,300 45, Rhode Island 80,762 91,519 53,961 82, South Carolina ,703 71, South Dakota ,360 48, Tennessee 44,079 90, Texas 51, ,445 48, , ,918 77,027 U.S. Virgin Islands Utah ,500 64,300 40,500 64, Vermont 64, ,608 53,560 84, Virginia 62, , ,324 83, Washington 72,000 91,000 53,000 66,000 48,000 66, West Virginia 54, ,332 37,140 68,712 35,025 72, Wisconsin 57, ,111 35, ,373 35, ,373 35, ,373 Wyoming

31 Table 6 (continued) 2014 Insurance Department Resources Report 23 Insurance Department Salary Range - By Position Antifraud Criminal Fraud Civil Fraud Enforcement Supervisory Staff Investigators Investigators Personnel Low High Low High Low High Low High Alabama ,390 76,349 33,902 56, Alaska 66, ,316 58, , American Samoa Arizona 46,932 80,150 39,983 68, ,110 53,107 Arkansas 45,377 91,395 35,554 65,221 35,554 65, California 62, ,696 46,824 75,816 35,844 72, Colorado 65,916 99, ,052 99, Connecticut 86, , ,737 95,363 Delaware 38,515 81, ,638 50, Dist. of Columbia 93, , , , Florida 39, ,000 36,468 63, Georgia 55,000 98,000 42,000 57, Guam Hawaii 58,000 86,000 43,000 70, Idaho 44,500 90,400 39,400 72,400 39,400 72, Illinois ,308 91, Indiana 48,000 62, ,000 58,000 Iowa 61,900 95,201 48,505 73, Kansas ,950 70, Kentucky 45,188 60,787 32,042 55, Louisiana 38,813 81, ,598 71, Maine Maryland 45,938 95,297 43,153 68,887 43,153 68,887 40,547 73,541 Massachusetts 41, , ,834 78, Michigan Minnesota 59, ,193 58,652 77,171 46,750 73,853 37,083 53,641 Mississippi , , Missouri 45,000 52, ,548 56, Montana ,914 67, Nebraska 46,708 70,063 43,445 62, Nevada 49,694 74, ,916 61, New Hampshire 61,356 87,541 48,496 72, ,985 86,541 New Jersey 77, , , ,040 53,315 87,820 New Mexico 50,898 88,525 31,782 61, ,766 55,307 New York 103, ,000 50, ,000 55, , North Carolina 48,195 86,707 39,632 72, North Dakota ,100 73, N. Mariana Islands Ohio 58,094 92,310 45,282 66,269 38,189 66, Oklahoma - 75,000 36,000 70, Oregon 65,904 97, ,284 63, Pennsylvania 52,186 76, ,692 69, Puerto Rico Rhode Island South Carolina 38,703 71, ,805 58,848 South Dakota ,688 40,622 Tennessee 56, , ,076 74, Texas 59, ,587 51,614 94,361 34,918 94,361 76, ,445 U.S. Virgin Islands Utah 44,000 73,600 35,400 69, Vermont Virginia 62, , ,324 83,252 Washington 63,000 88,000 73,000 79,000 60,000 68, West Virginia 33,036 81,852 29,400 54,396 27,732 61, Wisconsin Wyoming

32 24 Staffing Table 6 (continued) Insurance Department Salary Range - By Position Consumer Affairs Supervisory Complaint Consumer Assistance Senior Health Healthcare Staff Investigators Advocates Personnel Ins. Program Appeals Low High Low High Low High Low High Low High Low High Alabama 43,339 69,098 39,290 59, ,488 47, Alaska 57, ,124 48, , American Samoa Arizona 39,983 68, ,110 55, ,814 62,693 Arkansas 45,377 78,038 30,713 56, ,554 65,221 29,251 59, California 62,172 88,836 38,016 74, ,476 89,352 94, , Colorado 65, ,420 46,008 77, ,080 67, Connecticut 82, ,280 74,148 95, Delaware 35,994 86,698 31,440 50, ,384 50, Dist. of Columbia 93, ,985 71,716 91,750 76,397 98, Florida 36,468 63,197 32,676 51,136 46,381 85,919 26,046 48, Georgia 52,000 97,200 36,000 55, Guam Hawaii ,000 70, ,000 79, Idaho 39,400 90,400 39,400 72, ,900 64, Illinois 96, ,160 41, , Indiana 62,000 72, ,000 40,000 34,000 52, Iowa 76, ,555 49,940 77,459 63,772 98,092 42,228 70,574 23,233 98, Kansas 37,960 62,800 32,510 53, Kentucky 44,949 62,823 35,407 60, Louisiana 36,275 87,402 22,589 66,185 25,854 58, ,589 58,240 39,999 66,685 Maine 52,998 72,883 34,778 64,792 41,683 56,597 25,771 33, Maryland 43,153 89,320 38,117 68, ,729 60, ,547 73,541 Massachusetts 41, ,106 46,834 67, Michigan 54, ,272 45,864 73, ,610 67, ,026 80,621 Minnesota 52,743 76,379 39,672 73, Mississippi 37,458 65,552 30,581 53, Missouri 48,340 54,548 34,596 41, ,596 41,520 Montana - 61,699 52,701 55, Nebraska 46,858 82,730 41,292 62, ,180 61, Nevada 43,639 61,951 40,111 59, New Hampshire 62,985 86,541 48,496 65, ,891 55, New Jersey 89, ,118 43,094 87,820 79,171 87,820 38,041 55, ,513 72,953 New Mexico 35,381 61, ,229 45, New York 103, ,000 42, , North Carolina 44,347 99,446 36,761 66, ,001 66,204 46,206 75,719 North Dakota 64, ,220 33,108 55, ,108 55,188 33,108 55, N. Mariana Islands Ohio 58,094 92,310 38,189 66, ,189 54, Oklahoma 62,000 70,000 36,000 50,000 50,000 55, ,000 40, Oregon 59,748 97,044 47,688 69,624 54,828 80, Pennsylvania 55,785 89,213 34,817 69, Puerto Rico 47,808 64,944 27,000 46, ,800 25, ,420 30,420 Rhode Island 75,435 85,528 45,071 60, South Carolina 38,703 71, ,805 58, South Dakota ,616 39, Tennessee 46,620 83,916 31,332 60,924 31,332 60, Texas 36, ,987 31,144 94, , ,534 42,244 77, U.S. Virgin Islands Utah ,600 71, Vermont 47,528 74,318 37,960 58, Virginia 62, ,072 41,324 83,252 50, , , ,072 Washington 40,000 88, ,000 68, ,000 66, West Virginia 25,028 77,220 27,732 51,312 35,028 73,356 31,164 57, ,400 77,220 Wisconsin 34, ,111 35, , Wyoming ,488 57,

33 2014 Insurance Department Resources Report 25 Table 6 (continued) Insurance Department Salary Range - By Position Licensing Supervisory Staff Producer Licensing Company Licensing Other Licensing Alabama Low 39,290 High 59,518 Low 20,174 High 44,417 Low 64,078 High 97,766 Low 25,822 High 69,098 Alaska 52, ,636 38, , American Samoa Arizona 33,435 80,150 25,508 49, Arkansas 45,377 78,038 22,919 40, ,264 55,657 California 45, ,612 32,292 74,340 34,476 67, Colorado 65, ,420 46,008 67,344 49,464 77, Connecticut 82, ,280 39,709 95, Delaware 61,848 92,772 25,663 41, Dist. of Columbia 93, ,512 71,716 91,750 71,716 91, Florida 46,381 75,358 24,883 43, Georgia 60,000 97, Guam ,911 50,650 40,762 67, Hawaii ,000 46, Idaho 27,600 50,800 20,500 43, Illinois 102, ,840 47,820 64,104 45, , Indiana 55,000 68,000 21,000 28,000 25,000 50,000 36,000 40,000 Iowa 76, ,555 29,952 58, Kansas 38,000 59,500 28,309 38,000 34,260 52,578 28,300 39,500 Kentucky 42,894 54,864 32,922 36, ,747 39,651 Louisiana 36, ,078 22,589 66,685 22,589 66,685 25,854 66,685 Maine 45,656 62,650 28,766 47, Maryland 38, ,708 31,729 53,123 26,517 64,536 35,840 56,674 Massachusetts 41, ,106 40,250 67, Michigan 54, ,272 37,586 67,059 45,864 67, Minnesota ,672 57,629 42,115 88,051 32,134 45,205 Mississippi 53,600 93, Missouri 37,548 48,122 24,612 33,036 26,652 33, Montana - 60,964 30,823 48, Nebraska 47,726 71,587 14,437 51,440 33,369 47, Nevada 38,524 67,693 27,896 47, New Hampshire 46,449 62,868 26,559 34,651 39,292 52, New Jersey 87,820 92,012 31,720 52, ,094 92,012 New Mexico 39,686 69,035 21,195 40,914 21,195 55, New York 84, ,000 52,000 66,000 52,000 86, North Carolina 39, ,111 27,013 43,422 48, ,176 48, ,176 North Dakota 64, ,220 25,248 45, N. Mariana Islands Ohio 43,451 89,710 38,189 49,850 38,189 49,850 38,189 49,850 Oklahoma 36,400 57,500 32,000 33, ,200 36,000 Oregon 65,904 97,044 28,320 63, Pennsylvania 47,042 67,259 46,748 59,580 55,785 79,257 40,900 41,761 Puerto Rico 46,380 46,380 25,200 35, Rhode Island ,756 51,964 35,756 38, South Carolina 38,703 71,608 26,139 48,361 31,805 58, South Dakota ,664 39,520 39,520 39, Tennessee 32,904 76,116 22,272 35,616 46,284 74, Texas 69, ,987 27, ,534 31,144 94, U.S. Virgin Islands Utah ,500 56,200 24,200 62, Vermont 64, ,608 34,216 66, Virginia 62, ,072 34,835 83,252 41,324 83, Washington 44,000 84,000 39,000 45,000-62,000 52,000 65,000 West Virginia 31,164 57,660 20,472 37, Wisconsin 57, ,111 32,760 60,189 31,420 47, Wyoming 41,448 62,184 35,544 53,

34 26 Staffing Table 6 (continued) Insurance Department Salary Range - By Position Information Systems/Technical Services Systems/LAN Computer Data Services Supervisory Staff Personnel Programmer/Analysts Personnel Low High Low High Low High Low High Alabama 59,518 97,766 29,954 59,518 39,290 84,276 43,339 76,349 Alaska American Samoa Arizona 50, ,765 39,983 96,937 39,983 96, Arkansas 45,377 89,796 39,199 91,395 43,217 75,212 45,377 78,036 California 71, ,872 30,360 98,292 30,360 98,292 38,016 89,616 Colorado 45,552 64,776 46,008 67, Connecticut ,409 98,162 72,762 92, Delaware 54,017 81,025 47,184 70,776 33,638 50, Dist. of Columbia 104, ,979 82, , ,107 61,940 Florida 43, ,734 28,684 83,066 32,697 96,264 36,467 86,778 Georgia 75, ,000 55,000 97,000 55,000 65,000 55,000 65,000 Guam Hawaii Idaho 49,200 90,400 39,400 72,400 39,400 72,400 31,100 57,200 Illinois 93, ,372 96, ,476 61, , Indiana Iowa ,057 85, Kansas 50,000 64,300 36,000 47,000 42,000 54, Kentucky 79,056 79, ,505 64, Louisiana 44, ,170 31,970 83,408 31,970 77, Maine 45,656 62, ,778 54,662 Maryland 55,630 95,297 45,938 89,320 45,938 89,320 35,840 64,536 Massachusetts Michigan Minnesota Mississippi 55,274 96,730 41,164 72,037 34,279 89, Missouri Montana - 86, ,656 78, Nebraska 52,570 68, ,749 59, Nevada New Hampshire New Jersey 103, ,118 69, ,892 84, , New Mexico 66, ,230 35,381 88,525 35,381 61, New York 84, ,000 68, ,000 53, ,000 28,000 86,000 North Carolina 42, ,668 32, ,862 43, , North Dakota ,560 67, N. Mariana Islands Ohio 77, ,629 60,092 88,462 54,662 97,406 54,662 80,226 Oklahoma - 86, Oregon ,688 60, ,456 43,284 Pennsylvania Puerto Rico 65,160 65, ,020 25,020 Rhode Island South Carolina 47,092 87,125 38,703 71,608 38,703 71, South Dakota Tennessee Texas 69, ,587 34, ,534 36, ,587 34, ,534 U.S. Virgin Islands Utah Vermont ,378 89, Virginia 71, ,691 41,324 83, Washington 101, ,000 71,000 89,000 63,000 89, West Virginia 41, , ,025 72,840 44,244 81,852 Wisconsin 52, ,831 45, ,250 45, ,250 45, ,250 Wyoming

35 2014 Insurance Department Resources Report 27 Budget and Funding Budget Since 2011, budget growth rates have stayed relatively steady. Fiscal year 2016 budgets increased 1.5% over 2015 numbers and have increased 7.0% since Each year, state insurance departments are asked to provide budget information, including a projected budget amount for the upcoming fiscal year. In the following year, insurance departments update the projected amount to reflect the actual budget amount for the fiscal year. So, for example, the 2015 budget amounts reported in the 2013 publication are projected amounts and have been updated in the 2014 publication to reflect the actual budget amounts for the 2015 fiscal year. Funding The funding methods used by insurance departments can be divided into the following categories: Dedicated Funding Quasi-dedicated Funding General Revenue Funding Combination Other Under a dedicated funding system, specific amounts are placed in a separate fund established for the insurance department. Usually, the fund is created out of the fees and assessments, fines and penalties, and other incomes generated by the insurance department, while taxes (premium taxes and retaliatory taxes) go into the state s general fund. The department spends from the dedicated fund up to a level appropriated by the legislature. If revenue flowing into the fund exceeds the department s expenditures, the balance is carried over to the next fiscal year. If the revenue flowing into the fund is less than anticipated, the department must either reduce its spending level below the legislative appropriation or use the accumulated cash balance of the fund from previous years. Dedicated funding systems allow the department to lessen the effect of cyclical changes in its funding over time. The department is able to build up a cash balance during high revenue years and spend down the accumulated fund during economic downturns. A quasi-dedicated funding system is similar to the dedicated system, except that the balance at the end of the year returns to the state s general fund rather than being carried over to the next fiscal year. This system does not dampen the effect of cyclical funding changes. In a general revenue funding system, all revenue generated by the state insurance department is placed into the state s general fund. The state legislature then allocates an amount to the insurance department in the normal budgetary process. Generally, the state legislature has substantial control over how the insurance department spends this money. A combination system employs parts of two or more of the funding methods described above. Any remaining funding system is placed in the other category. This includes unique funding systems that do not fit into any of the more common categories mentioned above. Expenses Insurance department expenses can be divided into two main categories. Administration and regulation expenses are directly related to the administration of state insurance law and the regulation of companies and producers. Operations expenses are costs associated with the basic running of the department, such as building expenses and staff salaries. Revenues Insurance departments generate considerable revenues for their respective states. Not all revenue generated through the auspices of the state insurance departments are retained by the insurance departments. In most cases, these revenues are deposited into a state s general revenue fund, although, in some states, the insurance department s budget is linked to the amount of revenues collected from the insurance industry. In the following tables, revenues generated by state insurance departments have been divided into four categories: Total Taxes Fees and Assessments Fines and Penalties Other Total taxes include premium, retaliatory, franchise, and income taxes paid by insurers. Fees include filing, examination, and licensing fees. Assessments are defined as payments required of an insurer and designated at the time of collection for a specific use.

36 28 Budget and Funding Figure 3 Aggregate Insurance Department Budgets $1,400 $1,350 Budget ($M) $1,300 $1,250 $1,200 $1, Budget Year $1,382.3 $1,361.8 $1,325.4 $1,296.6 $1,292.1 $1,279.0 $1,237.3 $1,278.6 $1,245.8 $1,386.2 Figure 4 Annual Budget Growth Rates % 15.00% 15.55% 10.00% Growth Rate 5.00% 0.00% -5.00% 1.51% 2.75% 2.22% 0.35% 1.02% 3.37% -3.24% 2.64% % % %

37 Table Insurance Department Resources Report 29 Insurance Department Budgets - Fiscal Years Percent Alabama $17,441,600 $18,300,000 $19,648,499 $20,300,591 $17,910, % Alaska $7,757,200 $7,648,300 $7,231,400 $7,180,900 $7,161, % American Samoa Arizona $28,137,100 $15,742,100 $12,787,900 $13,974,400 $13,304, % Arkansas $12,633,662 $12,452,948 $12,445,243 $12,429,915 $12,253, % California $195,551,000 $194,887,000 $179,621,000 $166,159,000 $167,240, % Colorado $15,000,000 $14,924,658 $13,139,250 $11,757,457 $11,408, % Connecticut $29,839,222 $28,791,066 $26,688,491 $25,618,101 $24,281, % Delaware $8,627,300 $8,627,300 $8,277,100 $7,999,600 $7,826, % Dist. of Columbia $8,091,199 $7,539,769 $6,588,492 $6,809,907 $7,682, % Florida $86,304,896 $88,069,941 $81,685,695 $80,026,333 $83,065, % Georgia $22,083,390 $21,549,759 $21,550,000 $21,200,000 $16,040, % Guam $616,730 $609,245 $515, Hawaii $13,707,720 $12,381,140 $12,650,016 $11,581,755 $11,581, % Idaho $9,028,500 $8,822,500 $8,547,900 $8,163,300 $8,012, % Illinois $56,692,100 $55,956,300 $53,623,500 $53,894,200 $45,938, % Indiana $8,909,546 $8,909,546 $8,909,546 $8,390,327 $8,390, % Iowa $15,055,036 $14,839,136 $16,612,097 $12,610,623 $12,966, % Kansas $12,431,000 $12,367,000 $12,303,000 $12,200,000 $11,700, % Kentucky $18,858,500 $18,653,600 $16,003,200 $20,076,700 $19,146, % Louisiana $29,566,573 $32,544,045 $31,732,106 $31,146,371 $33,672, % Maine $10,323,169 $10,101,210 $9,812,972 $10,158,174 $10,695, % Maryland $31,822,510 $32,697,004 $31,665,173 $28,828,609 $29,498, % Massachusetts $15,381,475 $14,105,000 $14,445,000 $14,430,000 $14,300, % Michigan $33,182,100 $33,332,700 $31,488,550 $32,196,650 $29,920, % Minnesota $16,007,000 $16,246,000 $15,203,000 $17,045,000 $13,766, % Mississippi $14,030,240 $14,030,240 $13,982,023 $12,184,368 $11,911, % Missouri $15,505,094 $15,465,643 $15,183,531 $15,937,846 $16,591, % Montana $5,139,747 $5,126,921 $4,931,504 $4,716,754 $5,035, % Nebraska $14,785,204 $13,097,626 $12,872,697 $12,872,697 $12,517, % Nevada $15,416,207 $17,203,547 $17,320,778 $18,393,065 $16,686, % New Hampshire $11,304,670 $10,139,741 $9,726,280 $9,612,278 $10,817, % New Jersey $27,903,000 $28,553,000 $28,412,000 $28,657,000 $28,528, % New Mexico $10,468,000 $10,448,400 $7,758,000 $6,235,600 $6,157, % New York $147,583,000 $144,728,860 $143,593,860 $143,593,860 $143,593, % North Carolina $38,385,501 $38,385,501 $32,687,811 $32,926,151 $36,966, % North Dakota $5,791,390 $5,791,390 $5,534,952 $6,002,040 $6,002, % N. Mariana Islands $64,000 - Ohio $36,841,409 $36,545,157 $39,205,223 $36,880,720 $36,271, % Oklahoma $16,500,000 $16,500,000 $16,000,000 $15,500,000 $14,944, % Oregon $13,994,875 $12,785,283 $11,116,603 $11,859,388 $9,562, % Pennsylvania $24,269,000 $22,757,000 $22,330,000 $20,800,000 $18,502, % Puerto Rico $11,200,000 $10,896,000 $10,896,000 $10,896,000 $10,896, % Rhode Island $6,294,515 $5,720,720 $6,148,640 $5,173,608 $4,212, % South Carolina $18,679,783 $18,679,783 $18,597,279 $18,570,719 $13,831, % South Dakota $2,947,324 $2,947,324 $2,582,718 $2,380,493 $1,777, % Tennessee $15,000,000 $14,179,300 $15,421,900 $13,180,400 $15,077, % Texas $116,925,480 $116,007,008 $135,249,434 $130,686,050 $152,936, % U.S. Virgin Islands Utah $14,407,700 $14,253,900 $12,445,400 $11,755,800 $10,871, % Vermont $9,940,634 $11,218,497 $10,965,174 $10,364,109 $7,345, % Virginia $26,148,197 $26,148,197 $23,898,150 $24,317,133 $25,201, % Washington $26,748,000 $28,788,671 $23,424,432 $27,045,410 $26,092, % West Virginia $11,646,000 $11,646,000 $12,400,000 $12,385,048 $12,347, % Wisconsin $18,599,800 $16,828,400 $16,812,000 $16,823,200 $16,823, % Wyoming $2,796,134 $2,796,134 $2,695,793 $2,695,793 $2,751, % Total $1,382,299,432 $1,361,765,510 $1,325,367,168 $1,296,623,443 $1,292,081, %

38 30 Budget and Funding Table 8 s in Descending Order of 2016 Budget California 2016 $195,551,000 Rank $194,887,000 Rank 1 New York $147,583,000 2 $144,728,860 2 Texas $116,925,480 3 $116,007,008 3 Florida $86,304,896 4 $88,069,941 4 Illinois $56,692,100 5 $55,956,300 5 North Carolina $38,385,501 6 $38,385,501 6 Ohio $36,841,409 7 $36,545,157 7 Michigan $33,182,100 8 $33,332,700 8 Maryland $31,822,510 9 $32,697,004 9 Connecticut $29,839, $28,791, Louisiana $29,566, $32,544, Arizona $28,137, $15,742, New Jersey $27,903, $28,553, Washington $26,748, $28,788, Virginia $26,148, $26,148, Pennsylvania $24,269, $22,757, Georgia $22,083, $21,549, Kentucky $18,858, $18,653, South Carolina $18,679, $18,679, Wisconsin $18,599, $16,828, Alabama $17,441, $18,300, Oklahoma $16,500, $16,500, Minnesota $16,007, $16,246, Missouri $15,505, $15,465, Nevada $15,416, $17,203, Massachusetts $15,381, $14,105, Iowa $15,055, $14,839, Colorado $15,000, $14,924, Tennessee $15,000, $14,179, Nebraska $14,785, $13,097, Utah $14,407, $14,253, Mississippi $14,030, $14,030, Oregon $13,994, $12,785, Hawaii $13,707, $12,381, Arkansas $12,633, $12,452, Kansas $12,431, $12,367, West Virginia $11,646, $11,646, New Hampshire $11,304, $10,139, Puerto Rico $11,200, $10,896, New Mexico $10,468, $10,448, Maine $10,323, $10,101, Vermont $9,940, $11,218, Idaho $9,028, $8,822, Indiana $8,909, $8,909, Delaware $8,627, $8,627, Dist. of Columbia $8,091, $7,539, Alaska $7,757, $7,648, Rhode Island $6,294, $5,720, North Dakota $5,791, $5,791, Montana $5,139, $5,126, South Dakota $2,947, $2,947, Wyoming $2,796, $2,796, Guam $616, $609, American Samoa N. Mariana Islands U.S. Virgin Islands Total $1,382,299,432 - $1,361,765,510 -

39 Table 9 Funding and Expenses Funding Type and Sources 2014 Insurance Department Resources Report 31 Expenses Fees and Fines and General Admin and Operations Alabama Funding Type Combination Assessments 94.00% Penalties 1.00% Funds 0.00% Other 5.00% Regulation 68.00% (Overhead) 32.00% Alaska Dedicated % 0.00% 0.00% 0.00% 65.00% 35.00% American Samoa Arizona Combination 42.27% 0.00% 41.95% 15.78% 86.67% 13.33% Arkansas Dedicated % 0.00% 0.00% 0.00% 38.00% 62.00% California Dedicated 98.00% 0.00% 0.50% 1.00% 71.00% 29.00% Colorado Other 71.00% 0.00% 4.00% 25.00% 84.00% 16.00% Connecticut Dedicated % 0.00% 0.00% 0.00% 70.00% 30.00% Delaware Dedicated % 0.00% 0.00% 0.00% 85.00% 15.00% Dist. of Columbia Dedicated % 0.00% 0.00% 0.00% 34.00% 66.00% Florida Dedicated 94.80% 2.40% 0.00% 2.80% 81.96% 18.04% Georgia General 0.00% 0.00% 96.00% 4.00% 92.00% 8.00% Guam General 0.00% 0.00% % 0.00% 30.00% 70.00% Hawaii Dedicated 80.40% 1.90% 0.00% 17.70% 83.00% 17.00% Idaho Quasi-dedicated 94.61% 0.00% 0.00% 5.39% 80.21% 19.79% Illinois Dedicated 94.00% 0.00% 0.00% 6.00% 93.00% 7.00% Indiana Dedicated % 0.00% 0.00% 0.00% 75.00% 25.00% Iowa Combination 39.00% 0.00% 0.00% 61.00% 98.43% 1.57% Kansas Dedicated % 0.00% 0.00% 0.00% 97.00% 3.00% Kentucky Combination 98.00% 1.00% 0.00% 1.00% 87.00% 13.00% Louisiana Combination 92.74% 1.60% 0.00% 5.66% 71.00% 29.00% Maine Dedicated % 0.00% 0.00% 0.00% 80.00% 20.00% Maryland Dedicated 97.00% 0.00% 0.00% 3.00% 65.00% 35.00% Massachusetts Combination % 0.00% 0.00% 0.00% 80.00% 20.00% Michigan Dedicated % 0.00% 0.00% 0.00% 92.00% 8.00% Minnesota Combination 53.00% 0.00% 47.00% 0.00% 91.00% 9.00% Mississippi Dedicated % 0.00% 0.00% 0.00% 0.00% 0.00% Missouri Dedicated 88.49% 0.00% 0.00% 11.51% 92.22% 7.78% Montana Dedicated % 0.00% 0.00% 0.00% 90.00% 10.00% Nebraska Dedicated 90.00% 0.00% 0.00% 10.00% 70.00% 30.00% Nevada Dedicated 88.36% 70.00% 0.00% 10.94% 62.21% 37.79% New Hampshire Dedicated % 0.00% 0.00% 0.00% 77.00% 23.00% New Jersey Quasi-dedicated % 0.00% 0.00% 0.00% 88.00% 12.00% New Mexico Combination % 0.00% 0.00% 0.00% 80.00% 20.00% New York Dedicated % 0.00% 0.00% 0.00% 79.00% 21.00% North Carolina Dedicated 4.58% 9.20% 86.23% 0.00% 96.00% 4.00% North Dakota Other 84.00% 13.00% 0.00% 3.00% 88.00% 12.00% N. Mariana Islands Ohio Dedicated 92.00% 3.80% 0.00% 4.00% 68.00% 32.00% Oklahoma Combination 78.00% 0.00% 11.00% 11.00% 80.20% 19.80% Oregon Dedicated 89.00% 0.00% 0.00% 11.00% 77.00% 23.00% Pennsylvania Combination 0.00% 16.35% 80.96% 2.69% 86.79% 13.21% Puerto Rico Dedicated 92.00% 6.00% 0.00% 2.00% 79.00% 21.00% Rhode Island Combination 17.06% 2.08% 80.86% 0.00% 96.97% 3.03% South Carolina Combination 70.00% 0.00% 29.00% 1.00% 79.00% 21.00% South Dakota Quasi-dedicated % 0.00% 0.00% 0.00% 75.00% 25.00% Tennessee Other % 0.00% 0.00% 0.00% 80.00% 20.00% Texas Dedicated 80.00% 0.00% 0.00% 20.00% 79.00% 21.00% U.S. Virgin Islands Utah Dedicated 90.00% 0.00% 0.00% 10.00% 85.00% 15.00% Vermont Quasi-dedicated 95.00% 0.00% 0.00% 5.00% 92.00% 8.00% Virginia Dedicated % 0.00% 0.00% 0.00% 40.00% 60.00% Washington Dedicated 93.72% 0.00% 1.13% 6.28% 84.73% 15.27% West Virginia Dedicated % 0.00% 0.00% 0.00% 90.00% 10.00% Wisconsin Combination % 0.00% 0.00% 0.00% 71.13% 28.87% Wyoming Dedicated % 0.00% 0.00% 0.00% 90.00% 10.00% Average 83.04% 2.42% 10.92% 4.94% 76.88% 21.24%

40 32 Budget and Funding Table 10 Revenues Calendar/ Total Fees and Fines and Other Alabama Fiscal Year Fiscal Revenues $328,278,985 Total Taxes $303,059,412 Assessments $23,807,833 Penalties $269,132 Revenue $1,142,608 Alaska Fiscal $69,037,579 $60,001,075 $8,249,933 $786,571 $0 American Samoa - $ Arizona Fiscal $507,101,631 $478,966,025 $22,189,653 $3,386,492 $2,559,461 Arkansas Fiscal $260,558,768 $184,820,775 $34,142,523 $0 $41,595,470 California Fiscal $2,988,777,382 $2,739,746,513 $217,995,751 $28,548,012 $2,487,106 Colorado Fiscal $252,345,810 $239,430,683 $8,529,650 $513,700 $3,871,777 Connecticut Fiscal $217,582,880 $100,606,414 $114,251,247 $2,597,714 $127,505 Delaware Calendar $122,084,780 $93,618,638 $26,998,244 $1,405,428 $62,470 Dist. of Columbia Fiscal $119,284,643 $100,755,426 $18,328,259 $200,958 $0 Florida Fiscal $323,356,975 $243,426,883 $63,282,705 $7,837,925 $8,809,462 Georgia Fiscal $846,866,153 $325,600,762 $53,955,834 $10,683,282 $456,626,275 Guam - $ Hawaii Fiscal $147,935,749 $139,074,229 $8,333,731 $447,395 $80,394 Idaho Fiscal $97,358,806 $71,874,202 $24,699,988 $60,059 $724,557 Illinois Fiscal $445,069,211 $335,227,227 $51,620,635 $4,442,641 $53,778,708 Indiana Fiscal $366,453,251 $218,484,564 $15,935,764 $38,385 $131,994,538 Iowa Fiscal $118,125,892 $86,733,067 $29,483,583 $1,909,242 $0 Kansas Fiscal $190,411,428 $177,528,540 $12,178,545 $680,690 $23,653 Kentucky Fiscal $287,222,436 $152,143,550 $28,669,800 $3,520,183 $102,888,903 Louisiana Fiscal $558,353,909 $445,178,305 $109,419,318 $1,987,805 $1,768,481 Maine Fiscal $104,352,305 $87,739,267 $16,049,613 $563,425 $0 Maryland Fiscal $473,067,726 $442,080,643 $28,257,476 $2,729,607 $0 Massachusetts Fiscal $508,519,570 $358,574,000 $147,320,287 $2,625,283 $0 Michigan Fiscal $41,180,595 $11,366,769 $29,622,643 $191,183 $0 Minnesota Fiscal $450,845,458 $419,948,902 $26,308,881 $4,587,675 $0 Mississippi Fiscal $289,395,320 $263,809,122 $15,044,892 $659,024 $9,882,282 Missouri Fiscal $303,171,007 $283,472,999 $17,613,425 $2,076,945 $7,638 Montana Fiscal $108,075,718 $86,732,247 $20,539,642 $610,915 $192,914 Nebraska Fiscal $61,540,280 $43,533,626 $15,435,426 $1,144,628 $1,426,600 Nevada Fiscal $292,325,983 $264,773,742 $25,490,029 $793,397 $1,268,815 New Hampshire Fiscal $95,028,345 $80,632,106 $13,597,456 $798,783 $0 New Jersey Fiscal $658,319,876 $578,266,000 $76,489,724 $3,564,152 $0 New Mexico Fiscal $209,653,759 $186,558,326 $22,232,087 $819,304 $44,042 New York Fiscal $2,394,654,000 $1,394,874,000 $930,471,000 $69,309,000 $0 North Carolina Fiscal $519,915,570 $474,020,069 $42,364,273 $3,531,228 $0 North Dakota Fiscal $60,016,296 $51,047,337 $7,500,630 $1,175,392 $292,937 N. Mariana Islands - $ Ohio Fiscal $588,955,953 $522,672,885 $61,112,255 $2,513,036 $2,657,777 Oklahoma Fiscal $299,453,641 $257,484,342 $40,207,910 $557,275 $1,204,114 Oregon Calendar $82,521,236 $66,679,398 $11,677,685 $149,515 $4,014,638 Pennsylvania Fiscal $823,448,574 $757,601,000 $58,920,990 $5,949,051 $977,533 Puerto Rico Fiscal $52,939,087 $42,628,733 $9,438,749 $644,796 $226,809 Rhode Island Fiscal $139,740,086 $106,067,762 $2,622,040 $319,624 $30,730,660 South Carolina Fiscal $201,985,270 $175,728,134 $25,050,210 $824,441 $382,485 South Dakota Fiscal $84,841,490 $74,792,824 $9,344,741 $685,000 $18,925 Tennessee Fiscal $697,870,910 $683,052,374 $12,255,694 $2,562,842 $0 Texas Fiscal 2,129,774,300 $1,810,737,792 $242,004,624 $71,181,750 $5,850,134 U.S. Virgin Islands - $ Utah Fiscal $153,967,000 $138,918,000 $13,450,000 $558,000 $1,041,000 Vermont Fiscal $75,050,017 $59,920,002 $14,767,884 $362,131 $0 Virginia Fiscal $527,089,549 $451,189,575 $73,394,924 $2,505,050 $0 Washington Fiscal $504,956,617 $467,350,803 $33,802,684 $2,776,915 $1,026,215 West Virginia Fiscal $454,500,000 $155,982,000 $39,482,000 $536,000 $258,500,000 Wisconsin Fiscal $227,640,000 $185,502,000 $41,406,000 $594,000 $138,000 Wyoming Calendar $39,047,577 $25,552,946 $2,139,560 $110,159 $11,244,912 Total $21,900,049,383 $17,505,566,015 $2,997,488,430 $257,325,140 $1,139,669,798 Percent of Total % 13.69% 1.17% 5.20%

41 2014 Insurance Department Resources Report 33 Examination and Oversight Number of Insurers Insurance departments are responsible for monitoring many different types of entities, including traditional insurance companies and non-traditional risk financiers. It should be noted, however, that the regulation of health maintenance organizations (HMOs) is not charged to the state insurance departments for all jurisdictions. Insurers are traditionally classified as domestic, foreign, or alien. However, other non-traditional types of companies require regulatory resources. Domestic Insurer: An insurance company domiciled in the state in which the business is written. Foreign Insurer: An insurance company whose state of domicile is other than the state in which the company is writing business. Alien Insurer: An insurance company that is incorporated according to the requirements of a country other than the United s. Purchasing Group: A collection of individuals who band together to purchase group insurance. Members usually have something in common, such as belonging to a particular company, union, or trade association. Risk Retention Group: An insurance company that provides liability insurance to its member-owners. Many captive insurers only report premium to their domiciliary state, and it can be difficult, if not impossible, for non-domiciliary states to provide allocations of premium written within their state. Therefore, because of the way captive insurers are regulated and their unique reporting requirements, captive insurers are no longer being reported in Volume One with other domestic insurers. Company Examinations Insurance regulators are responsible for monitoring the solvency of all insurers doing business in their respective states. However, with the number of companies licensed to do business in each state, as well as the multi-state nature of many insurance enterprises, it is inefficient for regulators to focus equal attention on all insurers. Typically, state insurance regulators focus primarily on those insurance companies domiciled in their respective states. The task of monitoring non-domiciliary companies (foreign and alien companies) is generally delegated to the domiciliary state s regulator. This results in each state placing heavy reliance on the quality and efficiency of its fellow state regulators. The members of the NAIC have instituted an accreditation program to ensure that minimum standards of conduct are being followed by each state. In fact, 99.7% of financial exams initiated in 2014 were conducted on domestic insurers. The ability to rely on their counterparts across the country allows state insurance regulators to more efficiently use their limited resources to protect insurance consumers. This also saves money for insurers, because they are not subject to redundant examinations. To monitor solvency and evaluate market conduct, insurance companies are examined by the state insurance departments. Generally, companies are examined every three to five years. Special circumstances might warrant more frequent examinations of a specific company. Additionally, desk audits and solvency monitoring systems aid regulators in targeting companies for special attention. Company examinations are either single-state or multi-state exams. Single-state exams are conducted by and reports are filed with one particular state or territory. Multi-state exams are generally performed on companies doing a significant amount of business in more than one state. These exams are called by the company s domiciliary state, and other states are given the opportunity to participate. Examination reports resulting from such an exam are filed and may be accepted by each participating state. Financial examinations investigate a company s accounting methods, procedures and financial statement presentation. These exams verify and validate what is presented in the financial annual statement to ascertain whether the company is in good financial standing. The main thrust of these exams is the verification of the company s solvency and whether the company has complied with state laws and regulations. Major improvements have been made in the examination process through increased examiner training, the use of specialized computer audit software and enhancements to the Financial Condition Examiners Handbook. Market conduct exams review agent licensing issues, complaints, types of products sold by the company and/or agents, agent sales practices, rating practices, claims handling, and other market-related aspects of an insurer s operation.

42 34 Examination and Oversight Statutory exams occur on a scheduled basis and cover every aspect related to the financial status or market conduct of the company. Discretionary exams are conducted when deemed necessary by a state insurance regulator. The exam may focus only on a specific area of concern, such as a company s investment portfolio or reinsurance agreements, or could be a complete financial or market conduct examination. In the tables that follow, the state totals reflect the number of examinations in which the insurance department was the lead state. The total number of exams in each category is broken down into examinations of domestic or foreign companies and between statutory and discretionary examinations. Supervisions, Receiverships, and Companies in Run-Off One of the responsibilities of a state insurance commissioner is to take control of an insurance company when an examination of its financial records or other evidence shows the company to be financially impaired. The commissioner then operates the company in the best interest of the policyholders and other creditors. If the commissioner believes the company may be saved, the company is placed in rehabilitation by court order. In rehabilitation, the company is reorganized and may be allowed to continue or resume writing new business when it is once again financially sound. However, if it is not possible to restore the company s financial health, the commissioner will normally decide to liquidate the company. In liquidation, once the company s assets are sold and the payment of outstanding claims has been handled (property/casualty) or the business has been assumed by a solvent company (life/health), the company s estate is closed. The corporate existence may be dissolved at any time after the entry of a liquidation order. Occasionally, a company voluntarily decides to close its doors. In such cases, the company stops writing new business and stops renewing old business, but it is still responsible for claims associated with in-force and previously written policies. During this time, the company is said to be in run-off. Only after the last claim has been settled, paid, reinsured, or otherwise provided for is the company allowed to cease all operations.

43 2014 Insurance Department Resources Report 35 Figure 5 Number of Domestic Insurers ,350 6,300 Number of Companies 6,250 6,200 6,150 6,100 6,050 6,000 5, Insurers by Year 6,118 6,086 6,115 6,296 6,313 Figure 6 Number of Domestic Insurers in 2014 CA 143 OR 46 WA 39 AK 8 ID 14 NV 58 UT 76 AZ 121 MT 43 WY 7 NM 25 HI 46 CO 48 ND 32 SD 40 NE 88 TX 407 KS 48 OK 75 MN 154 IA 216 MO 177 AR 56 LA 109 WI 325 IL 351 MS 38 MI 140 IN 153 KY 40 TN 66 AL 40 American Somoa 4 Guam 10 Puerto Rico 66 N Mariana Islands 4 Virgin Islands 6 OH 238 GA 93 WV 28 SC 207 PA 271 FL 445 VT 112 VA 61 NC 81 NY 582 NH 61 ME 17 MA 86 RI 27 CT NJ DE MD DC 48