Committee Approves Legislation to Make Insurance Department a Non-Appropriated Agency

A measure to make the State Insurance Department a non-appropriated agency passed the Senate Appropriations Committee Wednesday evening. Sen. David Myers, author of Senate Bill 1658, says his legislation will save the state money.

“It’s important that we’re as efficient with state dollars as possible especially during hard economic times. Taking away appropriations from certain agencies that are self-sufficient, like the Insurance Department, makes good financial sense,” said Myers, vice chair of the committee. “The state stands to save over $2.5 million in funding that could be used for other essential state services like transportation, education and public safety.”

Myers pointed out that both the State Banking Department and the State Securities Commission were made into non-appropriated agencies several years ago, and he’s filed legislation this year to do the same with the Commission on Consumer Credit.

“Since 2005, the Oklahoma Insurance Department has been aggressive in improving our efficiency through the implementation of new technology and operational streamlining. Granting the Department non-appropriation status is the next logical step in our process of becoming self-sufficient,” said Insurance Commissioner Kim Holland. “Oklahoma, like the rest of the country, is facing serious economic challenges.
We're determined to do our part to reduce the cost of government while serving the public well.”

The bill, which was requested by the Insurance Department, will next be considered by the full Senate.