Nevada_Executive_Budget_2013-2015

B&I - INSURANCE COST STABILIZATION
504-3833
PROGRAM DESCRIPTION
The Insurance Cost Stabilization develops methods of stabilizing prices for property and casualty insurance, encourages competition, ensures adequate insurance is provided at reasonable
rates, sets financial standards for insurance companies, ensures the financial solvency of insurers, and reviews rates. The division must make this information available to the public and must
present a report of findings to the Legislature. Statutory Authority: NRS 679B.450.
BASE
This request continues funding for one position 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 284,530 140,224 159,018 159,018 199,586 144,650
BALANCE FORWARD TO NEW YEAR -140,224 0 0 0 0 0
PRIOR YEAR ASSESSMENTS 200 0 200 200 200 200
PROPERTY AND CASUALTY ASSESS 0 167,910 148,889 88,100 148,889 110,125
FINES 0 6,000 6,000 6,000 6,000 6,000
TOTAL RESOURCES: 144,506 314,134 314,107 253,318 354,675 260,975
EXPENDITURES:
PERSONNEL 61,564 62,359 64,687 63,653 67,198 66,118
OPERATING 3,256 3,702 4,350 4,366 4,452 4,466
PROGRAM EXPENSES 5,205 13,367 6,018 6,018 10,103 10,103
TRANSFER TO INSURANCE REGULATION 67,463 69,288 32,654 27,742 32,659 28,675
INFORMATION SERVICES 1,711 189 181 181 181 181
TRANSFER TO DEPT OF B&I 4,562 5,466 5,509 5,596 5,624 5,638
DHRM COST ALLOCATION 0 0 377 367 383 373
RESERVE 0 159,018 199,586 144,650 233,330 144,676
PURCHASING ASSESSMENT 2 2 2 2 2 2
STATE COST ALLOCATION 743 743 743 743 743 743
TOTAL EXPENDITURES: 144,506 314,134 314,107 253,318 354,675 260,975
TOTAL POSITIONS: 1.00 1.00 1.00 1.00 1.00 1.00
DEPARTMENT OF BUSINESS AND INDUSTRY B & I - 53
B&I - INSURANCE DIVISION