Nevada_Executive_Budget_2013-2015

B&I - INSURANCE DIVISION - The Insurance Division protects the rights of Nevada consumers in dealing with the insurance industry and ensures the financial
solvency of insurers. In order to fulfill its mission, the division advances a sound regulatory environment that is responsive to the insurance needs of Nevada.
Division Budget Highlights:
1. Clarify Insurance Fraud Assessment Requirements - The Insurance Division
submitted a BDR to revise language in Chapter 679B of NRS to clarify the applicability of
the assessment for the Special Investigative Account to insurers which hold a certificate of
authority but have zero or negative written premium, current language exempts them.
Division Biennium Total by Funding Source
Funding
90% Other
8% Transfers
2% Federal Fund
Division 2014 2015
Total $ 14,453,821 14,070,267
Total FTE 85.00 85.00
Division Biennium Total by Core Function
Core Function
84% Business Development
and Services
16% State Support
Services
DEPARTMENT OF BUSINESS AND INDUSTRY B & I - 17
B&I - INSURANCE DIVISION