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Insurance director reports PBM enforcement, rising wildfire costs and requests new actuary and fire-marshal funding
Summary
The Idaho Department of Insurance reported on implementation of pharmacy benefit manager reporting, the state's high-risk reinsurance pool, wildfire impacts on the property market and four FY2026 enhancement requests including a staff actuary, a regulatory compliance specialist and fire marshal compensation increases.
The Department of Insurance presented its budget and policy priorities to the Joint Finance‑Appropriations Committee on Jan. 21, reporting progress on pharmacy benefit manager (PBM) oversight, warning of wildfire‑related pressures on the homeowner insurance market and requesting four enhancement items for fiscal year 2026.
Director Dean Cameron told the committee the department has 75.5 approved full‑time positions and reported a fiscal‑year 2024 reversion of just under $2.2 million split between personnel and operating appropriations. He described the department’s premium tax distribution mechanism and noted that premium tax receipts are statutorily redistributed to the insurance administrative fund, an arson/fire/fraud prevention fund, the firemen’s retirement fund, the high‑risk reinsurance pool and the general fund.
On PBM oversight, Cameron said the PBM reform law that took effect Jan. 1 (House Bill 596) is being implemented. The department added a…
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