Nevada_Executive_Budget_2013-2015

B&I - INSURANCE EXAMINERS
504-3817
PROGRAM DESCRIPTION
The Insurance Examination Fund was established pursuant to NRS 679B.300 to provide for the examination of the affairs, transaction accounts, records, and assets of each authorized insurer.
Each authorized insurer is examined not less than every five years and each insurer applying for an initial certificate of authority is examined. Examinations are of financial or market
conduct and the examined company pays the cost of the examination plus an administrative fee designed to defray expenses incurred by the division. Statutory Authority: NRS 679B.230 -
679B.300.
BASE
This request continues funding for 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 832,308 422,092 538,136 538,136 755,588 624,768
BALANCE FORWARD TO NEW YEAR -422,091 0 0 0 0 0
AUDIT FEES 70,718 180,378 192,434 0 192,434 0
EXAMINATION FEES 1,617,527 3,117,553 1,493,498 1,493,498 1,147,795 1,147,795
ADMINISTRATION FEE-E 803,589 1,247,021 743,749 746,749 573,898 573,898
TOTAL RESOURCES: 2,902,051 4,967,044 2,967,817 2,778,383 2,669,715 2,346,461
EXPENDITURES:
PERSONNEL SERVICES 146,636 154,961 10,498 0 14,066 0
OPERATING 258 264 1,191 1,312 1,191 1,312
INSURANCE COMPANY EXAMS 1,632,723 3,117,553 1,493,609 1,493,498 1,147,906 1,147,795
PREMIUM AUDIT PROGRAM 10,374 13,998 -14,144 0 -14,298 0
TRANS TO INS REGULATION 1,111,564 1,141,642 717,794 656,277 727,439 679,667
INFORMATION SERVICES 334 328 2,366 2,366 2,366 2,366
DHRM COST ALLOCATION 0 0 753 0 766 0
RESERVE 0 538,136 755,588 624,768 790,117 515,159
PURCHASING ASSESSMENT 162 162 162 162 162 162
TOTAL EXPENDITURES: 2,902,051 4,967,044 2,967,817 2,778,383 2,669,715 2,346,461
TOTAL POSITIONS: 2.00 2.00 0.00 0.00 0.00 0.00
DEPARTMENT OF BUSINESS AND INDUSTRY B & I - 35
B&I - INSURANCE DIVISION