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Department of Insurance outlines budget requests, PBM oversight work and wildfire insurance pressures
Summary
The Department of Insurance presented its FY2026 enhancement requests — including a staff actuary, a regulatory compliance specialist and compensation increases for fire marshal staff — and updated lawmakers on PBM data collection, the state'9s 1332 waiver and wildfire-related insurance market stress.
The Joint Finance‑Appropriations Committee received the Department of Insurance budget presentation Jan. 21 and heard updates on pharmacy benefit manager oversight, the state—s 1332 health‑insurance waiver and growing wildfire‑related pressure on the homeowners insurance market.
Director Dean Cameron told the committee the department requested four enhancement items for fiscal year 2026, including a staff actuary (one FTP, $201,900 request with $198,900 ongoing personnel costs listed in the agency write‑up), a regulatory compliance specialist serving as an internal legal resource (salary requested at 80% of policy), 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 for fire turnouts, cameras and two medium‑duty pickup trucks.
Why it matters: Cameron…
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