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Idaho insurance director cites PBM complaints, high‑risk pool and wildfire market strain in budget testimony
Summary
At a Jan. 21 JFAC hearing, Department of Insurance Director Dean Cameron outlined enhancements including a staff actuary and a regulatory compliance specialist, described implementation of PBM reporting under HB596, and warned wildfire losses and reinsurance market tightening are squeezing homeowners insurance availability and rates.
Department of Insurance Director Dean Cameron told the Joint Finance‑Appropriations Committee on Jan. 21 that the department is requesting staff and equipment changes for fiscal 2026 and is monitoring several market issues, including pharmacy benefit manager (PBM) compliance, high‑risk pool effects, and wildfire‑driven stress on the homeowners insurance market.
Noah Peterson, the Legislative Services Office analyst, reviewed the department’s FY2026 enhancement requests: a staff actuary (one FTP, $201,900 requested, with $198,900 ongoing), a regulatory compliance specialist (requested at the equivalent of $41.03 per hour, described as 80% of policy for pay grade O), a $48,100 ongoing compensation increase for the state fire marshal and deputies, and $162,200 in one‑time capital outlay for replacement equipment (including $10,000 for fire turnouts, $16,200 for cameras, and $136,000 for two medium‑duty pickup trucks equipped for field use).…
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