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Insurance commissioner seeks staff and equity funding, supports merging securities into insurance; warns PBM regulation would require more resources
Summary
Insurance Commissioner John Godfried told the Government Operations Division that his department needs four additional FTEs and targeted equity and retirement payouts to handle rising consumer complaints, fraud work and the recently transferred State Fire Marshal functions; he also voiced support for moving securities oversight into the Insurance
John Godfried, North Dakota insurance commissioner, presented the Insurance Department’s budget request and legislative priorities to the Senate Government Operations Division, including staffing requests, salary/equity adjustments, capital needs for the State Fire Marshal, and policy positions on securities consolidation and pharmacy benefit manager (PBM) regulation.
Godfried said the department has added responsibilities since the Fire Marshal’s office transferred in 2023 and that the agency remains fully special‑funded. He asked the committee to approve four new FTEs the department had proposed: an additional attorney (to handle increased legal and fraud workloads and to support the Fire Marshal function), a company licensing and examination analyst (aimed at reducing expensive external consultant spending for insurer examinations), a property and casualty consumer analyst (to address a rising volume of consumer complaints and complex policy disputes), and a communications specialist to expand consumer outreach.
Godfried argued the…
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