State insurance departments are showing overall growth in budgetlevels over the past few years, with some significant highs andlows, according to the just-released National Association ofInsurance Commissioners (NAIC) statistical report.

Overall, state budget levels for fiscal year 2014 are expectedto rise by 0.04 percent from 2013 amounts, and to increase by 4.8percent from 2010 amounts, according to the study, InsuranceDepartment Resources Report 2012, Volume 2.

Total projected fiscal year 2014 budgets are $1.3 billion.

About half the U.S. jurisdictions — 26 of them — reportedincreased 2014 budget amounts from their 2013 reported budgets.

Thirteen states' fiscal year budgets declined over the four yearperiod, from fiscal years (FY) 2010 to 2014. The majority rose, andthe majority of those rose by double digits, the data show.

States that rose significantly in budget funds over the fouryears tended to be states with a smaller revenue base. The largestincrease begins with Vermont, which tallied a 70.13 percentincrease to almost $11 million for FY 2014, and Oklahoma, whichrose 44 percent to a FY high of $15.5 million, and Montana's 40.13percent rise to almost $5.44 million.

For declines, the Florida Insurance Department stands out.Florida's budget suffered a drop of 30.47 percent between FY 2010and FY 2014, from $116 million to almost $80.65 million.Interestingly, Florida's insurance industry premium volume hasrisen incrementally since 2009 to almost $112.72 billion. Budgetfunds come from a variety of sources, including assessments,premium taxes, federal grants, unclaimed checks, interest andinvestments, fines and special funding. Overall, the budget as apercent of revenue is 6.63 percent, falling to 2005 levels from alarger share of almost nine percent in 2009.

Other significant decreases include Indiana, where the state'sinsurance department budget dropped 21.02 percent to $8.9 millionand Alabama, down 13.86 percent to $18,52 million.

In terms of budget size, California reported the largest 2014budget of almost $175 million, which is $31.3 million greater thanthe second-largest 2014 budget (New York). California's percentrise since FY 2010 is 15.07 percent, while New York's is only 2.68percent.

The five states with the most premiums written in all lines wereagain led by California, followed by New York, Texas, Florida andPennsylvania. These five states accounted for 40.3 percent of allinsurance premiums in the United States, the NAIC stated.

Revenues collected from the insurance industry increased 1.5percent since 2011, to $19.5 billion. Total taxes collectedincreased by 1.4 percent. Fees and assessments decreased by 1.2percent, and fines and penalties increased 126.2 percent.

Premiums increased by 5.7 percent to $1.8 trillion since the2011. 

Since most captive insurers only report premium to their stateof domicile and do not provide information to the state in whichthe risk is written and may skew total premium for individualstates, it is no longer included in the total premium for eachstate.

Vermont led, with 500 domestic captives in 2012 and$25,138,002,581 in total premium. Missouri was a vast second, with$6,563,633,128 in total premiums, followed by active and maturingcaptive jurisdictions New Jersey, Arizona, Hawaii and Delaware.