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Program Enhancements and Other Budget Adjustments
Department of Insurance
The Governor's Budget includes $209 million, which reflects an increase of $1.2 million above the revised 2006-07 budget.
The Insurance Commissioner enforces the California Insurance Code, regulates the insurance industry, and oversees the Department of Insurance. The Department of Insurance regulates the largest insurance market in the United States, overseeing $115 billion in direct premiums. The Department examines and investigates insurance companies and producers to ensure operations are consistent with requirements of the Insurance Code, and insurance companies are financially able to meet their obligations to policyholders and claimants. The Department investigates complaints, responds to consumer inquiries, administers the conservation and liquidation of insolvent and delinquent insurance companies, reviews and approves insurance rates, and is a major force in combating insurance fraud.
COMBATING INSURANCE FRAUD
The Governor's Budget includes $5.1 million Insurance Fund for grants to support insurance fraud investigation, prosecution, and education activities. Specifically the Governor's Budget includes: $1.4 million for the Urban Grant Program to combat organized automobile insurance fraud, $1.6 million for grants to local District Attorneys to combat automobile insurance fraud that is not part of organized crime, $1.3 million to continue grants to combat workers compensation fraud by employers and medical providers, and $750,000, one-time, for grants to local District Attorneys to enhance prosecution of financial abuse crimes and educate consumers regarding financial abuse related to life insurance and annuity products.
INTERVENOR COMPENSATION
The Governor's Budget includes an increase of $780,000 Insurance Fund for Intervenor compensation costs. Intervenors act on behalf of consumers to resolve conflicts with insurers. Statute provides for compensation to Intervenors as determined by the Insurance Commissioner or a judge when the conflict is resolved, settled, or adjudicated. This augmentation funds the increased need for Intervenor compensation.
CHAPTER HIGHLIGHTS for
Legislative, Judicial, and Executive Back to Top
PRINTABLE BUDGET DOCUMENTS Back to Top
Budget Summary - Legislative, Judicial, and Executive (pdf * - 57K)
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Provides this entire Legislative, Judicial, and Executive Chapter in pdf format.
ADDITIONAL INFORMATION Back to Top
Proposed Budget Detail - Legislative, Judicial, and Executive
Displays Proposed Budget Detail information for Legislative, Judicial, and Executive.
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