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Analyst position sought after state finds over‑insured properties; refund limits noted
Summary
The Department of Administration's insurance office asked the committee for an additional property‑value analyst after identifying widespread over‑valuation in agency property records and limited ability to recover prior overpayments.
The Joint Finance-Appropriations Committee heard from the Department of Administration's insurance staff about gaps in the state's property valuation process and a request for one full‑time position to audit insured property values.
Faith Knowlton, administrator for the department's division of insurance, said her office currently has a single analyst responsible for an expansive portfolio: "we have 1 analyst that, is responsible for over $11,000,000,000 in…
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