ROSENDALE PRESENTS TO BUSINESS AND LABOR COMMITTEES, RELEASES 2018 STATISTICS

csimt 2019, Fraud, Insurance, Land Board, Legislature, Press Release, Securities

CSI’S “2018 IN NUMBERS” PROVIDES A SNAPSHOT OF THE STATE AUDITOR’S WORK

HELENA, Mont. – Commissioner of Securities and Insurance Matt Rosendale presented an overview of the State Auditor’s office to a joint meeting of the Montana House and Senate Business and Labor Committees today.

Rosendale also provided state legislators with a snapshot of the State Auditor’s work over the past year. CSI’s “2018 In Numbers” report highlights statistics about Montana’s insurance and securities industries, and regulatory actions.

In 2018, Rosendale’s office saved $7.4 million for over 29,000 Montanans in their insurance rates by reviewing over 3,700 rate filings and correcting unjustified premium increases. The State Auditor’s office recovered an additional $4.8 million for Montanans by handling over 1,300 complaints and inquiries about insurance.

In accordance with Montana’s laws on transparency in government, Rosendale’s office released nearly 34,000 pages of documents while handling 63 public records requests in 2018.

Through the securities department, 29 Montana issuers were approved to raise up to $562 million in business capital, including eight crowdfunding ventures that were authorized to raise a combined $4.7 million. Rosendale held Invest in Montana workshops in 21 Montana towns in 2018 to further his office’s statutory mission of encouraging business development and promoting capital formation.

Rosendale also reminded the legislative committees of a little-known fact about the State Auditor’s office: that it’s a criminal justice agency which prosecutes “white collar” crime both administratively and criminally. Rosendale’s office resolved 273 legal matters in 2018, with $11.4 million in ordered restitution to victims and another $1.2 million in fines imposed on bad actors.

Rosendale achieved a 3.3 percent decrease in State Auditor expenditures from Fiscal Year 2017 to Fiscal Year 2018, excluding transferring an additional $531,000 to the Governor’s office following the 2017 special legislative session. The State Auditor’s office collected and transferred a total of $90 million to the state’s General Fund in Fiscal Year 2018.

In his role as a member of Montana’s State Land Board, Rosendale voted for new public access to over 27,000 acres of land in Fiscal Year 2018. State Trust Lands generated $42 million for Montana’s public schools in Fiscal 2018, according to the DNRC.

You can see the full (one page) “2018 In Numbers” report here.

 

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