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Lawmakers weigh transferring Fire & Tornado fund oversight to OMB, spotlight Naderf claims handling
Summary
Representative Brandenburg told the Government Operations appropriations committee he had questions about two bills (House Bill 1026 and 1027) proposing to transfer Fire & Tornado and state bonding fund administration from the Insurance Department to the Office of Management and Budget; Insurance Commissioner John Godfrey supported the transfer as a way to remove a regulatory/contract conflict with Naderf.
Representative Brandenburg raised two bills — House Bill 1026 and House Bill 1027 — that would transfer administration of the Fire & Tornado fund and the state bonding fund from the Insurance Department to the Office of Management and Budget (risk management). Insurance Commissioner John Godfrey said both bills were introduced at the request of the Government Finance Interim Committee and that moving administration to OMB would remove a conflict where the department must both regulate and contract with Naderf.
Godfrey described Naderf's progress administering the Fire and Tornado (F&T) fund, saying the entity identified roughly $3,000,000,000 in previously uninsured property across the state after the department partnered with it. He told the…
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