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Department of Insurance reports PBM compliance work, seeks actuarial and fire‑marshal funding as wildfire risks strain market
Summary
Noah Peterson reviewed the Department of Insurance’s FY2026 request and Director Dean Cameron updated JFAC on PBM compliance work, the 13.32 waiver and wildfire‑driven pressure on the insurance market.
Noah Peterson, the Legislative Services Office analyst for the Department of Insurance budget, reviewed the agency’s base budget and enhancement package on Jan. 21. Director Dean Cameron then answered questions from the Joint Finance‑Appropriations Committee about pharmacy benefit manager (PBM) compliance, the state’s 13.32 waiver and wildfire impacts on the insurance market.
Peterson told the committee the Department of Insurance has 75.5 approved full‑time positions, split between the Insurance Regulation Division and the State Fire Marshal; funding comes principally from the Arson, Fire and Fraud Prevention Fund and the Insurance Administrative Fund. The agency’s FY2026 enhancement requests include an ongoing staff actuary position (total request $201,900,…
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