MISSION:
To review insurance company forms and rates for compliance with the law; to regulate insurance sales practices by investigating all inquiries and complaints; to license insurance producers and corporations; to issue and renew agent appointments; to register utilization review organizations; to approve and monitor managed care plans and utilization review organizations' compliance with grievance procedures; to examine domestic insurance companies and foreign insurance companies doing business in South Dakota; to assist consumers in recovering disputed claims and premium refunds; to issue interpretive opinions on the state's insurance laws; to administer the collection and auditing of premium taxes and fees; to administer the state insurance agent continuing education program; to administer the subsequent injury fund; and, to administer the Insurance Fraud Prevention Unit.

	ACTUAL FY 2008	ACTUAL FY 2009	BUDGETED FY 2010	REQUESTED FY 2011	GOVERNOR'S RECOMMENDED FY 2011	RECOMMENDED INC/(DEC) FY 2011
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	0	0	0
Other Funds	1,665,408	1,711,104	1,816,586	1,816,586	1,826,578	9,992
Total	$1,665,408	$1,711,104	$1,816,586	$1,816,586	$1,826,578	$9,992
EXPENDITURE DETAIL:
Personal Services	$1,374,866	$1,445,107	$1,451,421	$1,451,421	$1,461,413	$9,992
Operating Expenses	290,541	265,997	365,165	365,165	365,165	0
Total	$1,665,408	$1,711,104	$1,816,586	$1,816,586	$1,826,578	$9,992
Staffing Level FTE:	27.6	27.7	28.0	28.0	28.0	0.0

	ACTUAL FY 2008	ACTUAL FY 2009	ESTIMATED FY 2010	ESTIMATED FY 2011
REVENUES:
Taxes Collected (General Fund)	$60,103,206	$61,525,439	$63,000,000	$63,000,000
Fees (Insurance Operating Fund):	0	0	0	0
Admission	79,657	69,120	70,000	70,000
Company Renewal	83,170	83,470	83,500	83,500
Agent Licensing/Renewal	5,615,790	5,856,897	5,800,000	5,800,000
Exam Fees	12,710	13,220	12,500	12,500
Miscellaneous and Legal	9,330	9,584	9,330	9,330
Retaliatory/Filing	961,057	1,018,690	900,000	900,000
Administrative Penalties	38,251	118,538	25,000	25,000
Lists and Labels	5,270	2,650	2,500	2,500
Certification Letters	6,650	4,995	5,000	5,000
Investment Council Interest	34,474	39,502	34,000	34,000
Course Approval	25,255	20,550	20,000	20,000
Subsequent Injury Fund:	0	0	0	0
Sub-Injury Fund Assessment	5,447,724	218,614	5,000,000	3,000,000
Investment Council Interest	52,476	72,048	65,000	65,000
Continuing Education Fund:	0	0	0	0
Agent Renewal Fees (Biennial renewal)	93,100	125	93,100	0
Special Collections for Workers Comp	0	0	0	0
Policy Fee (Transferred to Dept. of Labor)	259,907	258,988	259,000	259,000
Examination Fund (Effective 7-1-97)	416,100	417,300	416,000	416,000
Investment Council Interest	10,068	16,364	12,000	12,000
Total	$73,254,195	$69,746,094	$75,806,930	$73,713,830
PERFORMANCE INDICATORS:
Total Licensed/Domestic Companies	1,421/45	1,431/45	1,430/48	1,430/45
Domestic Companies Financial Exams	21	4	6	7
Company Market Conduct Exams	0	1	2	2
Companies Licensed/Approved Mergers	52	24	35	40
Agent Licenses Issued	15,827	12,493	16,000	18,000
Agent Appointments Issued	51,321	56,332	58,000	60,000
Renewed Appointments	156,092	185,502	200,000	210,000
Agent Appointment Cancellations	41,719	43,891	45,000	46,000
Property/Casualty Filings Reviewed	6,717	6,920	7,000	7,100
Life/Health Filings Reviewed	3,543	3,693	3,750	3,850
Consumer Complaints Closed	913	956	950	950
Enforcement/New Open Files	869	845	900	900
Enforcement/Closed Files	938	836	850	850
Continuing Education:
Agents Paying License Renewal	4,796	0	6,600	0
Agents Exempt	2,384	0	500	0
Agents Reporting Completion	4,796	0	4,900	0
Courses Reviewed	842	807	850	850
Courses Monitored	6	7	7	7
Agent Licenses Cancelled	1,686	0	1,300	0
Transfer to General Fund (SDCL 4-4-4.4)	$4,772,651	$5,186,087	$5,000,000	$5,000,000
Subsequent Injury Fund:
New Claims	11	7	15	10
Claims Paid	90	86	80	86
Dollars Paid	$3,313,036	$1,740,626	$2,000,000	$2,000,000

generated 11/25/09 03:12:04 PM