Nevada_Executive_Budget_2013-2015

B&I - INSURANCE REGULATION
504-3813
PROGRAM DESCRIPTION
The Insurance Division is charged with protecting the rights of the consumer, the public's interest in dealings with the insurance industry, and is responsible under Title 57 of the NRS for
regulation of the insurance industry. The division regulates and licenses insurance producers and other professionals; sets ethical and financial standards for insurance companies; and reviews
rates. The division also reviews programs operated by self-insured employers for worker's compensation. Statutory Authority: NRS 232.805 - 232.840, 449, 452, 616A-616D, 617 and Title
57.
BASE
This request continues funding for seventy-four positions and associated operating costs. One-time expenditures have been eliminated and partial year costs have been annualized.
2012-2013 2013-2014 2013-2014 2014-2015 2014-2015
2011-2012 WORK AGENCY GOVERNOR AGENCY GOVERNOR
ACTUAL PROGRAM REQUEST RECOMMENDS REQUEST RECOMMENDS
RESOURCES:
BALANCE FORWARD FROM PREVIOUS YEAR 2,402,699 3,272,467 3,472,795 3,298,510 3,180,097 2,833,673
BALANCE FORWARD TO NEW YEAR -3,272,467 0 0 0 0 0
FEDERAL FUNDS FROM PREVIOUS YEAR 3 0 0 0 0 0
INSURANCE FRAUD ASSESSMENTS 1,121,000 1,145,750 1,135,000 950,000 1,135,000 950,000
PRIOR YEAR ASSESSMENTS 2,500 0 2,500 0 2,500 0
FEDERAL AID 550,920 151,195 0 2,560 0 2,560
FEDERAL GRANT-A 0 444,210 200,000 392,758 0 394,763
PRODUCER LICENSE ASSESSMENT 2,415,300 2,100,000 2,400,000 2,400,000 2,400,000 2,400,000
CORPORATE ASSESSMENT 2,229,280 2,470,000 2,210,000 2,210,000 2,210,000 2,210,000
CAPTIVE/RRG/RPG ASSESSMENT 112,100 100,000 107,500 107,500 107,500 107,500
EXTERNAL REVIEW CERTIFICATES 1,430 600 600 600 600 600
SERVICE CONTRACT FEES 149,915 181,675 189,225 189,225 189,225 189,225
SPECIAL SERVICES 3,515 4,393 3,515 3,515 3,515 3,515
FINES 42,250 33,750 33,750 42,250 33,750 42,250
COST ALLOCATION REIMBURSEMENT 1,856,606 1,906,844 1,415,959 1,289,690 1,433,460 1,334,935
TREASURER'S INTEREST DISTRIB 11,316 25,120 8,000 11,316 8,000 11,316
TRANSFER FROM INDUSTRIAL RELATIONS 135,782 139,627 135,782 13,720 135,782 13,720
TOTAL RESOURCES:
EXPENDITURES:
7,762,149 11,975,631 11,314,626 10,911,644 10,839,429 10,494,057
PERSONNEL 4,957,046 5,367,508 5,620,840 5,614,477 5,742,503 5,735,859
OUT-OF-STATE TRAVEL 461 496 461 461 461 461
IN-STATE TRAVEL 3,948 10,790 3,948 3,948 3,948 3,948
OPERATING EXPENSES 576,325 579,498 565,943 566,853 571,971 571,279
EQUIPMENT 6,104 0 0 0 0 0
FRAUD INVESTIGATIONS 15,917 28,410 9,730 8,780 9,730 8,780
ADVISORY COUNCIL 489,558 151,195 2,560 2,560 2,560 2,560
SERVICE CONTRACT 0 85 0 0 0 0
DEPARTMENT OF BUSINESS AND INDUSTRY B & I - 28
B&I - INSURANCE DIVISION