Our agency has been hard at work helping Montanans with many vital issues. We had historic flooding and our team quickly surveyed the damages and were ready to assist. We continue outreach on capital formation, financial empowerment, and literacy for under-served communities, consumer protection and access to insurance products in tribal communities, and general education on financial and insurance fraud are just some of the issues.
The first quarter of 2022 has been productive at CSI. We have seen the federal No Surprises Act and our Pharmacy Benefit Manager Licensure and Transparency Act go into effect. In addition, we continue to review and refine the administrative rules under this Agency and work hard on outreach to consumers, industry, and victims of insurance and securities fraud.
Our first year was full of meaningful work by all divisions of our agency. We strive to continuously improve the protection of Montanans in both Securities and Insurance. In this issue, we highlight success from 2021 and offer investor fraud tips. We also cover the No Suprises Act and Pharmacy Benefit Managers, which both go into effect on January 1, 2022.
CSI has been working hard on many important items including Senate Bill 363, the No Surprises Act, Insurance After-the-Fact, and we had an incredible turnout for the 2021 Montana Insurance Summit in Helena, Montana.
Over the previous quarter, the CSI team has been busy working to create rules and implement the 17 bills our agency got across the finish line during the last Legislative Session. We believe these bills will protect consumers, lower prescription drug costs, and make Montana a more competitive insurance market.
As an agency, we were honored to have received bipartisan support on 17 bills that CSI brought forward or supported. These included regulation of pharmacy benefit managers, expanding insurance and retirement products offered to Montanans, stopping auto and homeowner insurance companies from using old claims history to deny coverage or increase rates, and continuing telehealth accessibility.