Idaho insurance director warns wildfire losses, PBM oversight and high‑risk pool shape market; agency seeks staff and equipment

The Idaho Department of Insurance told the Joint Finance‑Appropriations Committee on Tuesday that a tightening reinsurance market, rising wildfire losses and ongoing pharmacy benefit manager (PBM) compliance work are straining insurers and could lead to higher premiums or nonrenewals for some homeowners.

Director Dean Cameron described a multi‑pronged budget request that includes an actuary, a regulatory compliance specialist, compensation increases for the State Fire Marshal’s office and one‑time capital outlay for equipment and vehicles. The department also reported implementation activity tied to last year’s PBM reform (House Bill 596) and defended the high‑risk reinsurance pool several committee members credited with stabilizing health insurance rates.

Why it matters: Director Cameron said wildfire losses and national catastrophic events have contributed to a hardening property market and higher reinsurance costs that ripple into Idaho, causing some carriers to reduce market exposure or stop writing coverage in higher‑risk areas. The department proposed legislative tools to help homeowners harden…