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Commissioner seeks reallocation to boost inspections, backs $155.8M reinsurance support
Summary
Commissioner King asked the General Government Subcommittee to reallocate just over $4.1 million to the Insurance Regulation Division to fund roughly 45 inspection positions and to continue state support for a $155.8 million reinsurance program; he said federal funds for reinsurance are used before state dollars.
Commissioner King told the General Government Subcommittee for Appropriations that his department is requesting a reallocation of just over $4.1 million from the Safety Fire Division to the Insurance Regulation Division to expand inspections and related staffing.
King said the reallocation would help bring elevator, building and manufactured-housing inspection teams “closer to 100% completion rate” and would fund approximately 45 positions to increase the department’s capacity for inspections, investigations, training and education…
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