Department of Insurance seeks actuary, outlines wildfire and PBM pressures on insurers

The Joint Finance-Appropriations Committee on Jan. 21 reviewed the Department of Insurance budget and heard Director Dean Cameron describe regulatory and market pressures tied to pharmacy benefit manager enforcement, the state’s high‑risk reinsurance program and wildfire-related insurance market disruptions.

The agency requested four enhancement items for fiscal 2026: one staff actuary (about $201,900 ongoing), a regulatory compliance specialist to serve as an internal legal resource, compensation increases for the state fire marshal and deputies ($48,100 ongoing from the Arson Fire and Fraud Prevention Fund), and $162,200 in one-time capital outlay (including vehicles, cameras and firefighter turnout gear). The department reported it has 75.5 authorized full‑time positions, with 63.5 in the Insurance Regulation Division and 12 in the State Fire Marshal division. The…