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Committee recommends passage of bill raising several insurance department fees; bill projected to add roughly $1.4 million to special fund
Summary
House Bill 11‑23 would raise company renewal and producer fees charged by the North Dakota Insurance Department; the committee voted 5–0 to give a do‑pass recommendation on the re‑engrossed bill.
The Senate Industry and Business Committee recommended passage of re‑engrossed House Bill 11‑23, a bill that would raise multiple fees charged by the North Dakota Insurance Department and is projected by department staff to generate roughly $1.4 million in additional special‑fund revenue if enacted.
John Arnold, deputy insurance commissioner, told the committee the department reviewed fees charged by other states and found renewal and annual fees were notably lower in North Dakota. "If enacted, we estimate that the proposed fee increases will generate approximately $1,400,000 in…
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