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 2009	ACTUAL FY 2010	BUDGETED FY 2011	REQUESTED FY 2012	GOVERNOR'S RECOMMENDED FY 2012	RECOMMENDED INC/(DEC) FY 2012
FUNDING SOURCE:
General Funds	$0	$0	$0	$0	$0	$0
Federal Funds	0	0	0	585,198	585,198	585,198
Other Funds	1,711,104	1,691,090	1,826,578	1,777,578	1,777,578	(49,000)
Total	$1,711,104	$1,691,090	$1,826,578	$2,362,776	$2,362,776	$536,198
EXPENDITURE DETAIL:
Personal Services	$1,445,107	$1,459,364	$1,461,413	$1,461,413	$1,461,413	$0
Operating Expenses	265,997	231,726	365,165	901,363	901,363	536,198
Total	$1,711,104	$1,691,090	$1,826,578	$2,362,776	$2,362,776	$536,198
Staffing Level FTE:	27.7	27.9	28.0	28.0	28.0	0.0

	ACTUAL FY 2009	ACTUAL FY 2010	ESTIMATED FY 2011	ESTIMATED FY 2012
REVENUES:
Taxes Collected (General Fund)	$61,525,439	$61,455,130	$61,000,000	$61,500,000
Fees (Insurance Operating Fund):	0	0	0	0
Admission	69,120	71,014	71,000	71,000
Company Renewal	83,470	85,160	83,500	83,500
Agent Licensing/Renewal	5,856,897	5,852,295	5,800,000	5,800,000
Exam Fees	13,220	14,340	12,500	125,000
Miscellaneous and Legal	9,584	13,635	10,000	10,000
Retaliatory/Filing	1,018,690	1,059,717	1,000,000	1,000,000
Administrative Penalties	118,538	117,594	95,000	95,000
Lists and Labels	2,650	2,970	2,500	2,500
Certification Letters	4,995	4,780	4,750	4,750
Investment Council Interest	39,502	48,607	42,000	42,000
Course Approval	20,550	22,300	20,000	20,000
Subsequent Injury Fund:	0	0	0	0
Sub-Injury Fund Assessment	218,614	3,291,788	2,200,000	1,900,000
Investment Council Interest	72,048	90,498	65,000	65,000
Continuing Education Fund:	0	0	0	0
Agent Renewal Fees (Biennial renewal)	125	63,955	0	64,000
Special Collections for Workers Comp	0	0	0	0
Policy Fee (Transferred to Dept. of Labor)	258,988	328,575	259,000	259,000
Examination Fund (Effective 7-1-97)	417,300	438,200	416,000	416,000
Investment Council Interest	16,364	14,673	12,000	12,000
Total	$69,746,094	$72,975,231	$71,093,250	$71,469,750
PERFORMANCE INDICATORS:
Total Licensed/Domestic Companies	1,431/45	1,439/44	1,440/45	1,440/45
Domestic Companies Financial Exams	4	9	7	7
Company Market Conduct Exams	1	3	2	2
Companies Licensed/Approved Mergers	24	17	25	25
Agent Licenses Issued	12,493	15,757	16,000	16,000
Agent Appointments Issued	56,332	53,780	55,000	55,000
Agent Licenses Renewed	31,511	33,394	34,000	34,000
Renewed Appointments	185,502	199,824	210,000	210,000
Agent Appointment Cancellations	43,891	56,557	46,000	46,000
Property/Casualty Filings Reviewed	6,920	7,022	7,100	7,100
Life/Health Filings Reviewed	3,693	3,028	3,500	3,500
Consumer Complaints Closed	956	805	900	900
Enforcement/New Open Files	845	835	850	850
Enforcement/Closed Files	836	834	850	850
Continuing Education:
Agents Paying License Renewal	0	7,022	0	7,000
Agents Exempt	0	202	0	200
Courses Reviewed	807	722	800850	800
Transfer to General Fund (SDCL 4-4-4.4)	$5,186,087	$5,280,260	$5,000,000	$5,200,000
Subsequent Injury Fund:
New Claims	7	14	10	10
Claims Paid	86	70	75	75
Dollars Paid	$1,740,626	$3,864,381	$2,000,000	$2,000,000

generated 11/18/10 03:41:11 PM