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Insurance commissioner presents HB1010 budget, seeks fee modernization and reserve increase
Summary
Jon Godfread, North Dakota insurance commissioner, outlined House Bill 1010 — his department's budget request — and asked lawmakers to approve fee modernizations, a larger reserve for the insurance regulatory trust fund and targeted pay adjustments for deputy fire marshals and attorneys.
Jon Godfread, North Dakota insurance commissioner, told the House Appropriations Committee's Government Operations Section that House Bill 1010 is a measured request to maintain regulatory oversight and support the newly transferred State Fire Marshal's responsibilities.
Godfread said the department currently operates eight divisions and 47 full-time positions, and he reviewed staffing, program responsibilities and several legislative fixes he said are needed to avoid cash-flow problems. "Thanks for the opportunity to present our budget bill," Godfread said as he opened his remarks.
Why it matters: The Insurance Department regulates insurers and producers, administers the State Health Insurance Assistance Program (SHIP) and now houses the State Fire Marshal's Office after a 2023 transfer. The department said recent statutory changes created funding flows that strain the department's insurance regulatory trust fund and that those strains have operational impacts on investigations, local fire-department support and consumer assistance.
Major points presented
- Organization and workload: Godfread summarized the department's eight divisions (legal; life and health; property and casualty; producer licensing;…
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