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Division of Financial Regulation requests staff and exam funding; highlights reinsurance and PBM oversight
Summary
The Division of Financial Regulation (DFR) told the subcommittee it seeks authority for the reinsurance program, additional contracted exam capacity, consumer advocacy staffing and new oversight authorities for pharmacy benefit managers after returning millions to consumers and increasing outreach.
TK Keane, administrator of the Division of Financial Regulation, told the Transportation and Economic Development Subcommittee that DFR’s work spans insurance, banking, securities and several consumer protection programs. Keane said the division returned more than $9,000,000 to Oregonians last year and handled more than 17,000 consumer phone calls and emails.
Why it matters: DFR’s oversight affects insurer rate filings, consumer complaint resolution, and complex market conduct work. The division’s budget requests would expand examinations, consumer advocacy and market surveillance capacity at a time regulators face new responsibilities such as PBM licensure and data‑broker registration.
Key programs and…
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