2011 Missouri DIFP Annual Report

DIFP Department of Insurance, Financial Institutions & 2011 Annual Report Jeremiah W. (Jay) Nixon John M. Huff Professional Registration Governor Director VIDEO Director John M. Huff on the responsibilities and duties of the Department of Insurance, Financial Institutions and Professional Registration. ACCOMPLISHMENTS / DIVISIONS Leadership Administration Top 10 accomplishments Finance Responding to disasters Credit Unions Tornado recovery in Joplin Professional Registration Joplin tornado timeline National leadership Insurance Consumer Affairs Insurance Market Regulation Insurance Company RegulationPROTECTING MISSOURI CONSUMERS DURING A CHALLENGING YEAR NEXT >>>

Annual Report Leadership: A three-tiered mission As the department that regulates insurance companies, the banking, lending and credit union industries and licensed professionals in Missouri, our fundamental mission is three-tiered: 1 Protect Missouri consumers. 2 Encourage a competitive marketplace. 3 Strengthen state-based regulation. DEPARTMENT LEADERSHIP TEAM Jim McAdams Travis Ford Melissa Palmer Matt Barton Angela Nelson Fred Heese Grady Martin Rich Weaver Ken Bonnot Jane Rackers Deputy director Communications Legislative Insurance Insurance Insurance Administration Finance Credit Unions Professional director coordinator Consumer Market Company director commissioner director Registration Affairs director Regulation Regulation director director director 2011 Serving and protecting “ doctor’s medical school and specialty, Our divisions have gone far beyond such as oncology or family practice. consumers affected by disasters The incredible devastation to lives and the call of duty in responding to the One area of emphasis was the property in the Joplin area has drawn Joplin tornado and other natural implementation of a new autism disasters during this challenging year. ” the attention of Missouri, the nation and law, which requires health insurance indeed the world. And while our everyday companies to cover the best-known demands of regulation must go on, the >>> Director John M. Huff treatment for autism, applied behavior recovery and rebuilding of Joplin has analysis therapy. Our implementation was dominated much of our work since the so successful and helpful to consumers EF-5 tornado struck on May 22. worst catastrophe Missouri has ever seen. namely in the form of new consumer that Autism Speaks, the nation’s largest We have worked with insurers, bankers, protection laws. advocacy group for autism, presented our There is much to talk about when it consumers, city and federal officials and comes to the leadership our teams have department with an award – the first countless other parties as we continue to The Missouri Board of Healing Arts, which provided for the Joplin area. That’s why of its kind – for exceptional efforts on assist in this recovery. licenses and disciplines doctors and we’ve devoted two pages to it in the behalf of individuals with autism. other health care providers, has stronger 2011 Annual Report. authority to crack down on doctors who In the pages that follow, you’ll see that Enhancements to consumer violate Missouri laws and regulations. while 2011 was a challenging year in many I can’t begin to tell you how proud I am of The new law signed by Gov. Jay Nixon the work done by the professionals in every protection laws ways, we successfully fulfilled our three- also allows the board to release more tiered mission of protecting consumers, division of DIFP They protect consumers . While no one saw the unprecedented information to the public about doctors. encouraging competitive markets and every day, but they have gone far beyond natural disasters coming, 2011 also Patients can now learn about their enhancing state-based regulation. the call of duty in response to the single brought some changes we did expect, >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 2DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report TopTen 10 Accomplishments 2011 of 3 Effective 4 Leading bank chooses implementation of to become Missouri’s autism insurance mandate largest state charter DIFP teams have spent much of 2011 The Division of Finance saw assets of implementing Missouri’s new autism state-chartered banks grow dramatically insurance law, signed by Gov. Nixon this spring when it approved Commerce in 2010. The department has helped Bank’s application to convert its providers and insurers work through national charter to a state charter. DIFP consumer services representatives billing and coding issues, created Commerce became the division’s advise consumers in Joplin just days after the substantial online educational materials largest regulated bank, with assets of tornado struck. for providers and parents, and licensed $18 billion. Assets of state-chartered 123 behavior analysts through the banks have jumped by 30 percent: from 1 Joplin tornado response Professional Registration Division. $71.5 billion to $93.1 billion. The Joplin tornado is the largest insurance Autism Speaks, the nation’s largest event in Missouri history, with $1.3 advocacy group for autism, awarded billion in claims paid by year’s end and an DIFP for exceptional efforts on behalf 2011 estimated insurance payout approaching of individuals with autism at its annual Nurse licensing fees will help fund expanded nurse education $2 billion. Missourians affected by the Autism Law Summit in October. And 5 Tougher regulations programs at Missouri colleges Joplin tornado have been a top priority for DIFP hosted 80 treatment providers, for doctors and universities. DIFP which has marshaled resources to , insurers and advocates at the 2011 serve consumers and deployed a full-time DIFP Autism Provider Summit, featuring The new law governing physicians, insurance regulator to Joplin. With DIFP’s the Governor as keynote speaker. signed by Gov. Nixon in 2011, has 6 Caring for Missourians help, tornado victims who filed complaints been implemented at a brisk pace: Recommendations by the State Board have received $4.5 million in extra After a series of newspaper articles, of Nursing resulted in Gov. Nixon’s claims payments from their insurance a legislative package came together December announcement of $1 million companies. quickly, the bill was passed and signed, in state grants to seven colleges and IT enhancements were made to the universities to enhance nurse education Board of Healing Arts website and rules 2 Record consumer recoveries programs. The initiative, part of the were quickly drafted and filed. Caring for Missourians program, was $21M Due in large part to natural disasters throughout created in 2011 legislation signed by the Governor and is funded by nurse Missouri, DIFP has returned a record licensing fees paid to the board. amount of money to consumers who filed complaints against their insurance companies. Recoveries stand at $21 DIFP Legislative Coordinator Melissa million, compared to 2009’s record Palmer, left, and Insurance Market amount of $14.6 million. Consumers Regulation Division Director Angela made 12,460 complaints, compared to Nelson, right, accept an award from 7,692 in 2010. Autism Speaks’ Lorri Unumb. >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 3DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report TopTen 10 Accomplishments 2011 of 8 New law modernizes 10 Innovative agreement credit union regulation protects 41,000 customers A new law, signed by Gov. Nixon in of rural insurer affected 2011, brought needed updates to the by tornado statutes enforced by the Division of Thanks to an agreement between Credit Unions. Passed unanimously by DIFP Missouri Farm Bureau and the , the Missouri Senate and House, the state Property and Casualty Guaranty law moves regulation of credit unions Association, 41,000 insurance more in line with Missouris banking policyholders in southwest Missouri regulations, including investigative power have been protected. They are and removal of officers and employees customers of the Barton County Mutual for wrongdoing. 9 DIFP unites consumers Group, an insurer that became insolvent CLAIM Program Director Carol Beahan, The legislation marked the first with missing after Joplin tornado claims. right, advises Rep. Joe Fallert on Medicare comprehensive update of credit unions life insurance policies questions. To the left is Tracey Wetzel, A Barton County judge approved a lead trainer for CLAIM. DIFP and CLAIM law in 40 years. The new regulations By leveraging new technology DIFP proposal in which Farm Bureau come at a time of growth for state- announced in October, DIFP now offers 2011 representatives, along with other agencies, lends the group $14 million and takes provided information to legislators and their chartered credit unions in Missouri, help to consumers trying to find missing over operations. The move saves the staff. which topped $10 billion in assets for life insurance policies for deceased Guaranty Association (and ultimately the first time in Missouri history. loved ones. DIFP will accept search taxpayers) the burden of covering forms from the public, then send the the group’s unpaid claims and saves 7 Medicare counseling policyholder information electronically to 41,000 consumers from having to program jumps licensed life insurers in Missouri for a find new coverage on their homes and in national ranks potential match. The first match united businesses. Missouri’s CLAIM Program, which a woman with life insurance benefits provides free counseling to Missourians from her father, who died in 2008. with Medicare, has achieved a significantly higher ranking from Medicare. Thanks to a renewed emphasis and better tracking of consumers assisted, CLAIM’s national ranking jumped nearly 20 positions in 2011. For the past several years, the ranking had been near the bottom nationally. >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 4DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Responding to disasters 2 4 Flooding 1 Tornadoes 3 DIFP divisions rally for victims The year 2011 was, at times, destructive, tragic and expensive. In addition to having a A DIFP team helps southeast Missouri flood victims with recovery questions. profound impact on Missouri consumers, the unprecedented disasters affected every division 2011 of DIFP through: , DIFP team advises flood victims in five locations zzHandling of consumer questions and complaints. Members of the Insurance Consumer Affairs 5 Division provided guidance and resources to zzRegulation of health care providers, who came consumers affected by flooding in southeast from all over to help those in need. Missouri in early May. zzEncouraging banks to give relief to mortgage holders with property damage. The community response events were zzMonitoring of insurance company performance organized by Gov. Nixon and held in Poplar and solvency. Bluff, Sikeston, Charleston, New Madrid and Caruthersville. PHOTOS 1 DIFP team member Sam Hicks reads messages 4 Four months after the tornado devastated Joplin, DIFP hosts left on the wall of a destroyed home in Joplin. a Recovery Roundup to help consumers still experiencing insurance issues. A team of DIFP regulators, several other 2 Charlotte Onstott and Dennis Fitzpatrick help a agencies and insurance companies gathered to help consumers. victim at the Recovery Roundup. 5 Three DIFP staff members help St. Louis-area consumers with 3 Julie Hesser assists consumers four days after questions about recovery from the April 22 tornado on Fox 2’s the Joplin tornado. phone bank. Gov. Jay Nixon speaks at a Consumer complaints lead Joplin St. Louis Sedalia community meeting in Sikeston. to additional claims payments $4.5 million $640,000 $250,000 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 5DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Tornado recovery in Joplin Largest insurance event in Missouri history. $1.3 billion in claims paid as of Dec. 31, 2011. 2011 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 6DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Joplin tornado timeline May 22: A deadly EF-5 tornado strikes at May 26: Director John Huff, with a June 1: DIFP announces 17,000 June 23: Credit Unions Division Director 5:41 p.m., killing 161 and destroying or Highway Patrol escort, visits insurers’ insurance claims have been filed. Ken Bonnot visits the three state- damaging 8,000 homes and buildings. mobile claims units. "For consumers chartered credit unions in Joplin to with property damage, the time to act is June: DIFP works with FEMA and assess damage. May 23: DIFP now," Huff says. city officials to establish standards launches Web consistent with homeowners policies to page with claim May 26: Gov. Nixon issues an executive allow for expedited debris removal. and complaint order that restricts the activities of public guidance for adjusters, prohibits cancellation or non- June 7: DIFP staffs the new state consumers, as renewal of policyholders in Jasper and Resource, Recovery & Rebuilding Center, well as toll-free Newton counties, and requires insurers to which is opened today by Gov. Nixon. phone numbers and mobile provide free copies of policy documents. claims unit addresses for insurers. July 20: A Joplin radio talk show May 24: The state Board of Pharmacy DIFP HOSTS RECOVERY ROUNDUP features Communications Director Travis releases guidelines to affected Ford, who encourages consumers to pharmacies on maintaining drug report their insurance coverage and inventory. Procedures are given for claim problems to DIFP . 2011 opening temporary pharmacies during a disaster. Aug. 22: DIFP offers a self-service kiosk May 25: Division of Finance for Joplin consumers Commissioner Rich Weaver sends a in the Resource, letter to Joplin-area banks encouraging Recovery & Rebuilding them to work with homeowners hard hit Center. by the tornado. The division and FDIC encouraged banks to extend repayment DIFP’s team of regulators help consumers with insurance issues. Sept. 13: DIFP announces insurance terms, restructure loans and ease terms Rob Reichart and Charlotte claim payments reach $1 billion. Sept. 24: A DIFP team hosts a daylong Onstott help consumers. for new loans. Nov. 28: DIFP issues bulletin to insurers Recovery Roundup at Missouri May 26: DIFP sets up shop at Missouri Southern State University to help Joplin saying Joplin homeowners need more Southern residents dealing with insurance and time to rebuild. Enforcing rebuilding State financial issues. Among the agencies deadlines of less than one year could University offering help 120 days after the be unreasonable and may subject the to help tornado: Missouri Division of Finance; Board of Architects, insurer to enforcement action. residents and Professional Engineers, Professional Land Surveyors and Dec. 31: Following complaints made businesses Landscape Architects; Missouri Department of Economic to DIFP $4.5 million in consumer , with Development; FEMA; Joplin Public Works Department; and recoveries has been returned to tornado insurance Consumer Credit Counseling. Insurance companies also The youngest visitors check victims. questions. Director John Huff, left, were on hand to help DIFP address consumer concerns. out a Joplin fire truck. advises a consumer with insurance questions.DIFP >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 7 Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Consumer Affairs Division Helps consumers resolve complaints and inquiries. Investigates insurance agents, public adjusters and bail bond agents suspected of violations. Provides information on insurance policy questions. Provides insurance education and outreach activities to Missouri consumers. DIVISION STRUCTURE Consumer Services Investigations Section Section This section handles New state laws will protect This section mediates Insurance complaints against insurance consumers after disasters complaints filed by consumers Consumer agents and agencies, bail bond agents and public against insurance companies. Actions by the section can HOTLINE adjusters. Two new laws signed by Gov. Nixon in 2011 will further protect insurance result in insurers paying higher policyholders: claim amounts to policyholders, 800-726-7390 To discipline an agent, the reversing denials of coverage department in most cases Repair contractors working Insurance claims or other steps consistent with Consumers with questions must file a complaint with with homeowners handling state law or specific insurance can call the Insurance the Administrative Hearing SB 101: Contractors who SB 132: Missouri law policies. Consumer Hotline or visit Commission (part of the perform roof or other residential now forbids city and insurance.mo.gov Office of Administration), exterior work cannot offer county governments This section provides which determines whether from restricting consumer education about TDD line for hearing impaired: to pay a homeowner’s 2011 there is cause for discipline. insurance deductible to get insurance companies insurance products through 573-526-4536 When cause is found, the the job. They also cannot trying to provide the department’s website, by department can suspend claims services to providing on-site counseling negotiate an insurance claim How we can help or revoke licenses, put a on behalf of a homeowner. storm victims. In after major storms and by licensee on probation or 2011, some local participating in outreach events Take your complaint Many times, contractors call order continuing education. themselves “insurance claims ordinances prevented throughout the state. It also Verify an agents license insurers from setting provides counseling and other specialists,” which can confuse Get help understanding The section also investigates consumers on the roles of up mobile command resources to individuals and an insurance policy unlicensed activity and reviews centers in areas hit employers to assist them with insurance adjusters and repair agent license applications. contractors. by storms. shopping for health insurance. 2011 STATS 5 Consumer Services Investigations Section BY TYPE OF INSURANCE BY REASON Section Top five zzAgent Health 1,048 Claim denial 916 zzConsumer restitution investigations conducted: Auto: private passenger 845 Claim delay 647 recovered: $19.2 million 1,788 zzConsumers assisted by phone: 21,251 Consumer Homeowners 635 Unsatisfactory settlement 511 zzActions against zzFormal complaints and inquiries agents: 109 complaints Life and annuity 289 Billing 148 opened: 12,460 Auto: commercial 70 Adjuster handing 128 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration 8DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Consumer Affairs Division 2011 ACHIEVEMENTS Consumer Affairs Division recovers record amount for 2011 The division obtained record recoveries $19.2 From students to seniors of $19.2 million for consumers in DIFP educates consumers million 2011. The previous record was set in 2009, when recoveries hit $14.4 $14.4 $13.7 $13.8 $12.4 million 1 million. million million million More than one-fifth of this year’s total Record 2 has gone to consumers affected by recovery the Joplin tornado. Also increasing dramatically are consumer complaints, which were up 62 percent over 2010. 2007 2008 2009 2010 2011 New Life Policy Locator service helps consumers find policies of deceased loves ones The division in November created a DIFP Life Policy Locato Department of Insura nce, Life Policy Locator service to help 4 Financial Institutions 2011 Professional Regist & ration r Service CONFIDENTIAL PERS ONAL INFORMATION consumers locate benefits from life The Missouri Depa rtment of Insur ance or annuity contr acts can help consumers locate and identify insurance.mo.gov 3 of a deceased policy insurance policies or annuity contracts holder. individual life insur ance policies WHO CAN SUBMIT A REQUEST Individuals who believ purchased in Missouri. e they are beneficiarie An executor or legal s, or representative of a when a policy was deceased individual issued or annuity was who may have lived purchased. in Missouri HOW TO SUBMIT A REQUEST Complete all inform ation, sign it befor Individuals who believe they are with an original certifi e a notar y public and ed death certificate mail it in an envelope to: marked “Confidenti Life Policy Locator al” along Missouri DIFP beneficiaries, as well as executors and PO Box 690 Jefferson City, MO 65102 Phone: 800-726-73 573-751-2640 90 TDD: 573-526-4536 legal representatives of the deceased then contact the beneficiary if a policy UPON RECE IPT OF THE REQUEST form Forward the comp and death certificate, leted form and any the Department of licensed life insur ance attachments, along Insur ance will: companies. with the death certifi person, may submit a search request cate, to all Missouri- is located. By the end of 2011, of the Ask that the companies policies or individual search their records annuity contr acts in to deter mine wheth the name of the decea er they have any indivi dual life insurance form. Requests are forwarded to sed. 46 searches requested, the division Ask that they respo nd directly to the reque annuity contr acts namin stor only if they have g the deceased, and any individual life insur if the requestor is ance policies or authorized to receiv e this information. life insurance companies, which will recovered $24,591 for consumers. PLEASE PRINT, TYPE OR WRITE CLEARLY IN BLACK OR BLUE 1 INK REQUESTOR’S CONT ACT INFORMATION DATE OF REQUEST 1 Investigator Sheri Sloan talks to Jefferson City High School students about Consumer services rep named State Employee of the Month insurance. Students also viewed an electronic presentation on auto insurance. REQUESTOR’S FULL NAME LAST FIRST ADDRESS MIDDLE Communications intern Kenny Gerling hands out Medigap guides to seniors STREET The division’s Suzie Comstock worked here for six years. EMAIL CITY STATE ZIP CODE 2 attending AARP’s Summerfest. COUNTY ADDRESS DAY PHONE was named the January 2011 “Employees like Suzie are NEXT Division Director Angela Nelson, right, explains complaint information to State Employee of the Month. MO375- 0842 (8-2011 3 ) invaluable to our department legislative assistants at the Capitol. She and representatives of other She is a consumer services and Missouri consumers,” said state agencies talked with legislators and their staff about how they assist specialist II, handling consumer Director Huff. “Health insurance constituents with insurance questions and complaints. complaints regarding life and can be complicated and health insurance. Senior office support assistant Lori Eggen distributes information at the expensive, and consumers have 4 Missouri Institute on Minority Aging conference at the Lake of the Ozarks. She also was DIFP’s insurance employee more questions than ever before about of the fourth quarter for 2010. Suzie has their coverage.”DIFP >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Insurance Consumer Affairs Administration Professional Registration 9 Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Market Regulation Division Reviews insurance policies, rates, products and marketing strategies for compliance with Missouri law. Performs market conduct examinations to ensure fair treatment of policyholders and compliance with Missouri law, and monitors the marketplace. DIVISION STRUCTURE Market Conduct Section Statistics Section Unlike the Consumer Affairs Division, which This section creates databases, handles individual complaints, the Market Robust insurance market publishes reports on various insurance Conduct Section explores deep into the Premium volume for Missouri insurers markets in Missouri and monitors the operations of insurance companies suspected reached $30 billion for the first time in availability and affordability of insurance of violating Missouri laws. Violations found 2011. coverage in the state. Extensive data on during exams and investigations may result in insurance companies doing business fines and restitution to policyholders. Fines and The Missouri insurance market ranks in Missouri can be found on the penalties go to the Missouri State School Fund. 37th in the world, exceeding many department’s website. countries including Argentina and Norway. Market conduct consumer recoveries Two Missouri-based reinsurers, RGA DIFP annually prepares reports on: 2011 $1,769,580 Reinsurance Co. and Generali USA, Consumer Complaint Index 2010 $996,772 comprise nearly 42 percent of the Market Share national market share for life reinsurance. 2011 Homeowners Insurance Market conduct company fines Private Passenger Automobile 2011 $465,168 Medical Malpractice Life and Healthcare Section 2010 $909,641 Real Estate Malpractice This section pre-approves all life and Small Employer Health Insurance health insurance policy forms sold Availability Act, which protects small Legal Malpractice to Missouri consumers. This prior businesses. Product Liability Property and Casualty Section approval requirement extends to Life, Accident & Health Supplement Data This section reviews policies and rates for auto, group and individual health policies, Life & Healthcare/2011 annuities, prepaid dental plans, HMOs Mortgage Guaranty Insurance homeowners, title, workers’ compensation, Form & rate filings reviewed commercial property, credit, malpractice and others. Property & Casualty Supplement Letters of violations insurance and more. Medigap rates must be approved by the section. The section 4,230 If DIFP finds violations in filings, insurance companies are notified. In 2011, 1,754 filings enforces HIPAA, as well as the 1,747 were corrected through this process. Property & Casualty/2011 Companies offering coverage in Missouri at beginning of the year Form & rate filings reviewed 2010 2011 2010 2011 Filings corrected Homeowners 120 133 HMOs 20 21 5,402 Auto 220 210 Long-term care 103 102 Comprehensive health (excludes HMOs) 91 83 Medical malpractice 41 41 1,754 Life & annuities 434 427 Workers’ comp 290 303 10 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Market Regulation Division 2011 ACHIEVEMENTS Training provided for health care providers, insurers DIFP hosted the Autism Provider Summit in Jefferson Autism best practices when filing insurance claims. PROVIDER City, which was attended by over 80 health care providers, Summit Gov. Nixon, who signed insurers and parents of children the law in 2010, praised the efforts affected by autism. of DIFP providers and insurers for , working together during a smooth A DIFP team gave a primer on the first year of implementation. The law See our autism resources page: new law and its requirements for requires health insurance insurance.mo.gov/consumers/ insurance companies and updates companies to cover the best-known autismFAQ on licensing of behavior analysts. treatment for autistic children, Participants also heard from insurers applied behavioral analysis, up to Autism coverage stats and autism treatment providers on $40,000 per year. In 2011, the first year of the new autism law: zz1.3 million Missourians were covered by a health plan that offers 2011 coverage for autism therapies. zz3,805 Missourians received autism treatment that was covered by their health plans. Gov. Nixon speaks at the summit. About 80 zzClaims for autism-related participants learned about navigating the insurance treatments totaled $4.3 million, world, setting up infrastructure and billing systems, just .1 percent of health insurance and licensing their staff. company claims for the year. Workers’ compensation insurance in Missouri – more competitive than ever There were eight more companies zzThe number of companies offering coverage continues to grow, offering workers’ comp coverage at the giving Missouri employers more choice than ever before in insurance.mo.gov beginning of 2012 than a year ago. selecting an insurance plan. The insurance divisions zzMissouri businesses are paying less for coverage than in 1994. launched a new 2012 311 zzDIFP and industry analysts have predicted decreases in overall streamlined website that 2011 303 claims payments (loss costs) for six consecutive years. increases usability and zzThe frequency of on-the-job injuries has declined for 15 straight focuses on driving and 2010 290 years, with a total reduction of 50 percent during that time. retaining traffic. 11 >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional Registration >>>DIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Company Regulation Division Monitors and analyzes the financial condition of insurance Certifies and collects premium companies licensed in Missouri to ensure they can pay claims. taxes due to the state. DIVISION STRUCTURE Financial Exam Section Admissions Section Taxation Section revenue and state school funds. This section performs examinations of This section issues licenses, known as This section determines premium taxes, This section also regulates surplus lines insurance companies headquartered certificates of authority, to insurance which insurance companies pay in lieu insurers, including the placement of or incorporated in Missouri. These are companies doing business in Missouri. of income taxes. Insurers file tax returns policies and premium tax owed. Surplus known as domestic insurers. The section issues a license after with DIFP by March 1. After auditing the lines companies are not licensed financial and policy analysts review a returns, the department informs the insurers, but they provide coverage not Exam time company’s financial health, proposed state Department of Revenue the tax typically available in the commercial forms and history. due from each company. market. Examples include coverage of DIFP analyzes quarterly financial The section also enforces laws The Missouri premium tax rate is 2 shipping, entertainment events, antique statements from insurance governing 1,625 regulated entities. percent. These taxes go to general cars and terrorism. companies doing business These are not insurance companies, in Missouri. In addition, the but they provide some type of Tax collections (fiscal year) FY 2009 FY 2010 FY 2011 department conducts comprehensive insurance-related product. Examples financial examinations: Premium sales $209.9M $222.6M $216.4M are providers of service contracts 2011 zzThe division examines Missouri- Workers’ compensation 8.7M 12.5M 12.4M for motor vehicles and homes, based (domestic) insurers every discount medical plans and third-party Surplus lines 21.9M 23.0M 22.2M three to five years. administrators. Captive insurance companies 118,473 489,388 642,871 zzMissouri’s county and farm Tax credits (on premium tax only) 75.4M 74.6M 74.4M mutuals are examined at least every five years. zzOut-of-state (foreign) and international (alien) insurers are examined by regulators in their Captive Insurance Section John Rehagen, CFE, jurisdiction. A captive insurer provides in-house insurance coverage for directs Missouri’s its parent company. It is designed to complement existing Captive Insurance insurance coverage as part of the business’s overall risk Program. management strategy. Companies Financial Analysis Section interested in Captives also provide benefits to the state: Each captive creating captive operations in This section monitors the solvency pays premium tax for the business it writes, and captives can and legal compliance of all insurance Missouri may contact: create jobs for service providers they employ such as lawyers, companies doing business in Missouri. John.Rehagen@insurance.mo.gov accountants, consultants and actuaries. At year’s end, there were 1,900 573-522-2563 insurance companies licensed in Licensed Missouri captives handle life reinsurance, workers’ insurance.mo.gov/captive Missouri. compensation deductibles, group health and more. About 99 percent of captive premium volume is reinsurance. 12 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Insurance Company Regulation Division 2011 ACHIEVEMENTS he division’s primary focus for RECEIVERSHIP PROCESS T 2011, as with the past several years, was close monitoring of the solvency of Missouri domestic insurance companies. Insurers, like banks and credit unions examined by DIFP continue , When an insurer is in danger of insolvency, the division can go to court to ask that the company be placed in receivership. Two insurers were placed in receivership in 2011. Receivership to combat challenges resulting from the protects policyholders by placing a economy of the past four years. This year company under the full control of the was an especially challenging one for DIFP director. property and casualty insurers due to the large number of natural disasters, including This process is overseen by DIFP’s the Japan earthquake and tsunami. Receivership Section, which manages 19 insurance companies in Telepresence saves money, time rehabilitation or liquidation. Claims of The division is using technology to bring together experts and DIFP financial Innovative agreement prevents companies in receivership are covered examiners and analysts from the St. Louis, Kansas City and Jefferson City offices liquidation of insurer by the Missouri Insurance Guaranty to reduce travel expenses. The division used the state’s new “Telepresence” Thanks to an agreement between DIFP , Fund, which pays claims for insolvent videoconferencing system for a seminar put on by the National Association of Missouri Farm Bureau and the state insurers. Insurance Commissioners. “Telepresence is the next best thing to an in-person Insurance Guaranty Association, 41,000 2011 group meeting,” says division Director Fred Heese. insurance policyholders in southwest Missouri have been protected. They are customers of Insurance company changes the Barton County Mutual Group, an insurer ’09 ’10 2011 Captive insurance premiums again top $1 billion that became insolvent after Joplin tornado claims. New insurance The Captive Written Total Licenses companies admitted 41 25 29 Insurance Section MO premium captives issued Under a court-approved proposal submitted by New non-insurance 85 51 47 continues to grow. DIFP Farm Bureau lends the group $14 million , 2011 $1.7B 19 8 companies admitted In 2011, the CLOSE TO HOME and takes over operations. The move saves number of licenses 2010 $1.5B 11 6 Mergers 19 13 16 the Guaranty Association (and ultimately issued increased by eight to 19. 2009 $1.1B 6 3 taxpayers) the burden of covering the group’s Lines of authority added 14 13 10 Captives again topped the $1 unpaid claims and allows policyholders 2008 $123M 3 1 Company withdrawals 29 10 11 billion mark in premium volume and to keep their residential and commercial produced over $1 million in premium 2007 $30M 2 2 insurance coverage. tax in 2011. 2011 STATS Record sales Financial Analysis Section Financial Admissions Section Taxation Section zzInsurance premium sales: $30 billion zzTotal licensed insurance companies: 1,900 zzRegistered entities zzMissouri premium tax rate: 2% Domestic (Missouri) insurers: 209 (non-insurance zzPremium taxes paid to general revenue zzTotal capital and surplus: $948 billion companies regulated Foreign (out-of-state) insurers: 1,559 and state school funds: $229 million zzTotal admitted assets: $4.8 trillion Alien (non-U.S.) insurers: 132 by DIFP): 1,625 13 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Administration Division Protects consumers by licensing insurance agents, bail bond agents and public adjusters. Licensing includes review of qualifications, education, criminal history and compliance with Missouri law. Provides administrative support to all divisions of DIFP, including accounting, human resources, budget and information technology. DIVISION STRUCTURE FY 2012 Insurance divisions: $16.7 million budget: Professional Registration: $14.2 million $40.1 Finance: $8 million million Credit Unions: $1.2 million Human Resources Fiscal Services Section Section This section is responsible This section administers for the fiscal management Insurance Licensing Manager Brenda Otto visits employee pay and benefits, of state insurance funds, with an agent at the Missouri Association of Insurance Agents Small Agency Conference. develops and implements including accounts payable, employee policies and accounts receivable, contracts 2011 procedures, recruits applicants and procurement, as well as Licensing Section and trains employees. support functions such as This section licenses insurance and bail mail room, inventory and fleet bond agents doing business in Missouri. management. Discipline of licensees is handled by the Budget Section department’s Consumer Affairs Division. DIFP’s fiscal year 2012 operating budget is $40.1 CLAIM Program million with 583 full-time The division oversees the CLAIM Program, employees. which provides free counseling The department receives no for Missouri consumers with general revenue and is funded Moving for fitness Medicare and their caregivers. through fees from industries DIFP’s new Wellness Team held several CLAIM is funded by DIFP and Medicare. the department regulates. DIFP organizational chart activities for employees, including four Consumers can visit missouriclaim.org walks and flu shots. or call 800-390-3330. 2011 STATS Record number Total licensees in December 2011: 143,017 (Up 6 percent from 2010) Insurance producers (agents) 127,368 General bail bond agents 135 Public adjusters 106 Surplus lines producers 1,409 Business entity producers (agencies) 12,844 General bail bond corporations 10 Public adjuster solicitors 9 Organizational credit business entity providers 209 Bail bond agents 842 Surety recovery agents 42 Public adjuster corporations 31 Temporary title producers 12 14 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Administration Division 2011 ACHIEVEMENTS Medicare counseling he Insurance Licensing Section T continues to see growth in the number of agents who apply for and renew their licenses online, which greatly speeds up the processing time for applications. program jumps in national ranks Missouri’s CLAIM Program, which provides free counseling to Missourians with Medicare, has In 2011, 81 percent of agents renewed achieved a significantly higher electronically. That number was 49 ranking from Medicare. Thanks to percent in 2008. a renewed emphasis and better tracking of consumers assisted, August Dudenhoeffer, left, speaks with Director CLAIM’s national ranking among John Huff during a CLAIM open enrollment insurance.mo.gov/renewin3 states jumped nearly 20 positions event in Jefferson City. In the center is CLAIM allows insurance agents to file and this year. Manager Jim Day. renew online in three easy steps. CLAIM held over 100 open enrollment events across Missouri in the fall of 2011. Among the consumers helped: More licensees filing, renewing online Online Mail A St. Louis woman came in with A St. Louis retiree was paying $1,200 2011 four insurance plans. A CLAIM per month for health coverage The percentage of insurance counselor pointed out that she through his former employer. A 32% 19% agents applying electronically 51% 49% 45% 55% 81% was significantly over-insured. The counselor showed that he and his 68% has increased from woman canceled all four policies wife would be better off buying a 49 percent in 2008 to and switched to more suitable combination of Medicare plans. They 2008 2009 2010 2011 81 percent in 2011. plans. Savings: $2,532 a year. did. Savings: $7,200 per year. missouriclaim.org Team focuses on wellness State Health Insurance Assistance Program 800-390-3330 DIFP created a Wellness Team charged with planning wellness- related activities for employees. All divisions are represented. New licensing requirements to protect car, cellphone owners The department held four Two new laws, signed by Gov. Nixon in expires. Licenses had been issued to wellness walks, gave flu shots 2011, put new protections in place for two 947 individuals and businesses shortly and opened a Wellness Room industries, taking effect Jan. 1, 2012. after the law took effect. for staff to monitor their vital signs. zz A portable electronics license is now zzMany sellers of motor vehicle extended required for wireless communications Front from left: Tamara Kopp, Anna Brockes, Lori service contracts now must have an providers in Missouri who sell Eggen, Leslie ORourke and Travis Ford. Back: Eric insurance license. These contracts insurance coverage on wireless Weddle, David Owen, Brian Veit and Grady Martin. are purchased by consumers to cover devices, including mobile phones. auto repairs after their factory warranty 15 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Finance Division Enforces laws for banks, trust companies, savings and loans, Assists consumers with Analyzes the safety and soundness of financial institutions mortgage brokers and consumer credit lenders in Missouri. complaints and inquiries. for Missouri depositors through financial examinations. DIVISION STRUCTURE Banks and Trust Section Mortgage Licensing This section regulates and examines Section state-chartered banks and trust We’re No. 5 This section regulates companies for solvency to protect Missouri ranks fifth in the nation in the mortgage brokers and depositors. Banks can choose either a number of state-chartered banks with 274. mortgage loan originators federal or a state charter, and about 90 through licensing and percent of banks in Missouri are state- About 90 percent of Missouri banks are investigation. A mortgage chartered. state-chartered. broker is a company; a mortgage originator is an Federally chartered banks are regulated individual employed by a by the Office of the Comptroller of mortgage broker. the Currency. Customer deposits Consumer Credit Section Companies licensed are insured by the Federal Deposit by the Consumer Credit Section Employees of banks and This section enforces state and federal laws Insurance Corp. (FDIC). The section also credit unions are exempt governing consumer transactions, including Payday lenders 973 regulates six state-chartered savings 2011 Truth-in-Lending and anti-discrimination laws. from licensing. and loan associations. Federal savings Consumer installment lenders 739 It also handles consumer complaints and The section investigates institutions are regulated by the Office of Small loan lenders 455 inquiries. license applicants for the Comptroller of Currency. Title loan lenders 270 Companies licensed and examined by this criminal history, general Motor vehicle time sales lenders 147 fitness, experience and section include payday lenders, title lenders, It’s The Division of Finance Missouri financing institutions 77 financial responsibility consumer installment lenders, small loan the analyzes financial statements (including credit history). companies, debt adjustors and companies Premium finance companies 64 law from state-chartered banks that issue money orders, traveler’s checks or Companies that issue money 64 and savings and loan transmit funds electronically. orders, traveler’s checks or associations each quarter. transmit funds electronically In addition, the division The section also enforces anti-discrimination Debt adjusters 50 examines institutions rated (“redlining”) laws for state-regulated lenders satisfactory at least once and mortgage brokers. These laws prohibit Credit service organizations 27 every 18 months. Others discrimination in residential real estate loans are examined at least once The section issues reports to the Governor based on property location, race, age, sex, every 12 months. on payday lending and redlining laws. They marital status, religion or national origin of the can be found at finance.mo.gov. borrower. 2011 STATS 2011 STATS Companies and individuals State-chartered banks State-chartered savings Nondeposit trusts: 6 Mortgage loan Consumer credit regulated by Division of in Missouri: 274 and loan associations: 6 originators: 3,185 lenders: 2,816 Finance: 6,638 Mortgage brokers: 351 16 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Finance Division 2011 ACHIEVEMENTS customers: Each bank location opened for business the next day, customers were able to deposit and withdraw $18 billion Commerce Bank chooses funds, use debit and ATM cards, make loan payments, do business at the to be regulated by DIFP branches and even use up existing “ The Division of Finance saw stocks of checks. Most important, no assets of state-chartered banks These requests are depositor lost a cent due to the closing. grow dramatically in 2011 when further evidence of the it approved Commerce Bank’s Protecting bank Close oversight and examination by the application to convert its national divisions status as division ensured the safety of customer depositors through deposits in state-chartered banks, which charter to a state charter. the preferred regulator tough times are insured by the FDIC. Commerce became the division’s and speaks powerfully While the U.S. banking industry largest regulated bank, with to the strength of the continues to deal with repercussions assets of $18 billion. Farmers of the worst economic recession since Bank of Northern Missouri in state-based regulatory the Great Depression, Missouri state- chartered banks saw numerous signs of improvement in 2011. Unionville and First Missouri Bank in Brookfield were also approved to convert from national banks to system. ” >>> Finance Commissioner 2011 state charters. Rich Weaver Bank profitability improved during the year, along with liquidity, and the Assets of state-chartered banks in percentage of delinquent loans is 2011 jumped by 30 percent – from shrinking for the first time since the $71.5 billion to $93.1 billion. recession began in 2008. While the division closed five state- chartered banks in 2010, just one bank closure occurred in 2011. The failed bank was acquired the same finance.mo.gov day by a solvent bank and there was Search for state-chartered banks, no interruption of banking services to file consumer complaints 2011 STATS Record assets Bank assets, deposits and loans BANKS ASSETS DEPOSITS LOANS saw a big jump after Commerce 2011 274 2011 $93.1 billion 2011 $77.6 billion 2011 $54.6 billion Bank became a state-chartered 2010 275 2010 $71.5 billion 2010 $59.6 billion 2010 $47 billion bank this year. The number of 2009 282 2009 $80.4 billion 2009 $65.6 billion 2009 $53.9 billion banks has decreased since 2008 due to mergers and acquisitions. 2008 291 2008 $76 billion 17 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Credit Unions Division Monitors the financial condition of state-chartered credit unions to protect depositors. Assists consumers with complaints and inquiries. DIVISION STRUCTURE Protecting Missouri depositors Ken Bonnot confirmed as This division regulates and examines director of Credit Unions state-chartered credit unions for solvency to protect depositors. The division also We’re No. 8 The Missouri Senate on Jan. responds to consumer inquiries and Missouri ranks eighth in the 18 unanimously complaints about credit unions. nation in the number of state- confirmed chartered credit unions with 124. Credit unions can choose to be state or Ken Bonnot’s federally chartered. Federally chartered About 1.2 million people are nomination by Gov. credit unions are regulated by the National members of credit unions in Nixon. Credit Union Administration. Customer Missouri. The Senate deposits are insured by the National Credit Gubernatorial Union Share Insurance Fund, similar to the Appointments Committee earlier FDIC. recommended his confirmation. Bonnot 2011 has worked at the division since 1995, The Division of Credit Unions is off-site monitoring on an ongoing basis having served as deputy director since It’s The Division of Credit Unions an accredited agency through the to help identify increasing risk. Credit 2005. He had served as acting director the analyzes financial statements National Association of State Credit unions facing financial, operational or since June 2009. law from state-chartered credit Union Supervisors. compliance problems receive increased unions each quarter. In attention, which may come in the form addition, the division examines The division proactively performs of enforcement actions. qualifying state-chartered credit unions at least every 18 months. Record assets $10 billion 2011 STATS reached for first time in May Assets and deposits CREDIT UNIONS ASSETS DEPOSITS LOANS have increased while the 2011 124 2011 $10.3 billion 2011 $8.8 billion 2011 $6.1 billion number of credit unions has 2010 127 2010 2010 $8.4 billion 2010 $6 billion $9.7 billion decreased due to mergers. Loan numbers remain even. 2009 132 2009 $9.4 billion 2009 $7.9 billion 2009 $6.1 billion 2008 139 2008 $8.5 billion 18 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Credit Unions Division 2011 ACHIEVEMENTS Division reaccredited for five years In April the Division of Credit Unions got a new five-year reaccreditation from the cu.mo.gov National Association Search for of State Credit Union state-chartered Supervisors. credit unions, The NASCUS file consumer accreditation process complaints began in 1989, and the division got its first accreditation in 1990, making Missouri the third state with that designation. “I’m proud that our agency has been “ It’s a tribute to the professional state regulators a leader in national accreditation," on our team and their said division Director Ken Bonnot. commitment to protecting ” "It’s a tribute to the professional Missouri consumers. 2011 state regulators on our team and their New laws for credit unions; assets at record high commitment to protecting Missouri >>> Division Director Ken Bonnot consumers." SB306: A new law signed by Gov. The legislation marked the first Nixon brought needed updates to the comprehensive update of credit unions A NASCUS team performed an on- reports to show it’s still meeting the statutes enforced by the division. The law in 40 years. The new regulations come site review in Jefferson City, looking at national standards. law moves regulation of credit unions at a time of growth for state-chartered administration, examination and training more in line with Missouris banking credit unions in Missouri, which topped and other areas. Accreditation must NASCUS works with and accredits state regulations, including investigative $10 billion in assets for the first time in be renewed every five years, and the credit union regulators in Missouri and power and removal of officers and Missouri history. division has to submit annual evaluation 14 other states. employees for wrongdoing. Credit union financial statements Division of Credit Unions hosts training seminar What you need to know The Credit Unions Division along with The college provided compliance and expectations of a director and gave an t ratios Assets Loans NASCUS ge Liabilities the National Association of State education to about 50 participants, overview of the credit union landscape Cash $7,500,000 Shares Colle Investments 500,000 Director’s Payables $8,500,000 Other 1,500,000 Other 300,000 Credit Union Supervisors hosted the including boards of directors and in the state. Senior examiner Todd 500,000 200,000 Importan Total liabil ities $9,000,000 3, 2011 first Missouri Directors College in managers of credit unions. Willoughby walked attendees through a November Equity n Inn SLIDE Hilton Garde Division of Credit Unions Credit Unions gular Division of Re 1 , Mo. reserves Independence Undivided $300,000 earnings Other res erves 500,000 Independence in November. financial statement review and critical Division Director Ken Bonnot made Total equit 200,000 y $1,000,000 Total balance sheet ratios. assets $10,000,00 0 Total liabil s dit Unions 1 SLIDE and equit ity $10,000,000 y a presentation on the regulatory Credit isioion Cre Div Un n of Division Division of of Credit SLIDE Unions 39 39 19 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Professional Registration Division Protects consumers by licensing professionals and companies Processes applications, determines qualification and conducts investigations to ensure they meet the requirements of Missouri law. Licensing into potential misconduct for 243 professions, including doctors, nurses, includes review of qualifications, education and criminal history. funeral homes, CPAs and architects. DIVISION STRUCTURE Board licensing, discipline pr.mo.gov Licensing and discipline are handled The division launched by 40 boards housed within the a new streamlined division. Boards review applications, website that issue licenses, and investigate and increases usability discipline licensed professionals and focuses and businesses. The division’s 243 on driving and board members are appointed by retaining traffic. the Governor with the consent of the The switch marks state Senate for terms established the final step in the by statutes governing each board. modernization of all five of DIFP’s websites. The division receives no general Left: Division Director Jane Rackers, center, visits with new Dental revenue and is fully funded by the Board member Deborah Polc and her husband, Douglas. Right: Laura Munsterman signs in new members who attended training and a reception. fees paid by licensees. Disciplinary procedures 2011 The division’s Administrative Unit Board member status To discipline a licensee, boards in most cases must Current includes the division director and The division and Governor’s Office fill 58 term file a complaint with the Administrative Hearing 110 provides human resources, budget, vacancies and replace board members Expired Commission (part of the Office of Administration), 75 legislation, information technology whose terms have expired. There are term which determines whether there is cause for and other functions to all boards. 243 professional licensing boards. Vacant discipline. When cause is found, boards can suspend or revoke licenses, put a licensee on probation or Some boards have dedicated order continued education. investigators and inspectors, while others use the division’s Central The professional licensing boards emphasize the Qualified, energetic professionals interested Investigative Unit. These teams importance of education and continuing education. in serving on a professional licensing board respond to complaints about As a result, licensees better understand the are encouraged to complete an application at licensees and inspect salons, regulations governing their professions, provide governor.mo.gov/boards improved service for Missourians and generate fewer barber shops, funeral homes, tattoo shops and other facilities to check consumer complaints. See who else is “giving back” to Missouri. for compliance with state laws and Look for the newsletter link to Giving Back regulations. 2011 STATS zzBoards and commissions supported: 40 zzLicensed professionals and businesses: More than 425,000 zzProfessions licensed: 243 zzLicensing fees collected: $18.85 million 20 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Professional Registration Division 2011 ACHIEVEMENTS Caring for Missourians: Nurse licensing fees expand pr.mo.gov educational opportunities More doctor information available Thanks to a new law supported by DIFP Recommendations by the State Board and signed by Gov. Nixon, Missourians of Nursing resulted in Gov. Nixon’s can now find out more information about December announcement of $1 million their doctors from the Board of Healing in state grants to seven colleges and Arts website. Patients can use the universities to enhance nurse education licensee search to learn their doctor’s programs. medical school and any specialty area The initiative, of practice, such as cardiology or part of the Caring pediatrics. In the past, the board was for Missourians not allowed to release this information. DIFP’s Sandy Sebastian, left, and KPRT-AM program, was radio talk show host Elizabeth Williams. created in 2011 legislation signed by the Governor and New autism law requires is funded by nurse licensing fees paid to Educating consumers Board of Embalmers and Funeral licensing of behavior analysts the board. The colleges and universities 2011 are: Directors Executive Director Sandy Licensed for the first time in 2011 were Sebastian went on a Kansas City behavior analysts, under Missouri’s new zzCox College in Springfield radio talk show to discuss consumer autism law. The law requires health zzMineral Area College in Park Hills protections in Missouri’s funeral insurance companies to provide coverage zzOzarks Technical Community College regulations. She and host Elizabeth for certain autism treatments. in Springfield Williams of Samuel U. Rodgers Health Center talked about consumer rights The Behavior Analyst Advisory Board now zzUniversity of Missouri‑Columbia has licensed 123 behavior analysts and when buying funerals, entering into zzUniversity of Missouri‑Kansas City 24 assistant behavior analysts. preneed funeral contracts and the zzUniversity of Missouri‑St. Louis board’s role in regulating the funeral zzWilliam Jewell College in Liberty industry. 2011 STATS Professional The number of professionals LICENSEES DISCIPLINE INITIATED has increased slightly since 2011 426,362 2011 1,751 Registration 2010 while the number of 2010 422,189 2010 2,456 year-end stats disciplinary actions has 2009 424,619 2009 1,826 decreased by 29 percent. 2008 1,250 21 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report Professional Registration Division PROFESSIONALS REGULATED BY BOARDS AND COMMISSIONS The state’s professional licensing boards and commissions inspect everything tattoo artists to fair treatment of consumers’ finances through preneed funeral from financial operations of CPAs to hygienic practices of hair salons and contracts. The division regulates 426,362 individuals and companies. Accountants and 20,286 OVERSEEING LICENSING BOARDS accountancy firms Acupuncturists 109 Athlete agents 61 Athletics: 1,866 Professional boxers, wrestlers and mixed martial arts Architects, professional 24,194 engineers, professional land surveyors and landscape architects Behavior analysts 138 2011 Chiropractors 2,268 Cosmetologists and 75,738 barbers Professional counselors 4,821 Healing arts: 40,107 Marital and family therapists 222 Psychologists 2,159 Physicians and surgeons Dentists and 8,841 Physician assistants Massage therapists 6,619 Real estate appraisers 2,576 dental hygienists Physical therapists and assistants Nurses 125,316 Real estate agents 43,926 Speech language pathologists Dietitians 1,843 and brokers Clinical audiologists Occupational therapists 4,156 Clinical perfusionists Respiratory care practitioners 4,406 Embalmers and 6,212 Anesthesiologist assistants Optometrists 1,303 funeral directors Audiologists Social workers (clinical) 6,069 Cemeteries (endowed care) 130 Athletic trainers Pharmacists, pharmacies 34,163 and pharmacy technicians Tattoo, body piercing and 1,103 Geologists 874 Hearing instrument specialists 221 branding artists Podiatrists 351 Interior designers 89 Veterinarians and 4,686 Private investigators 769 vet technicians Interpreters 740 TOTAL 426,362 22 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

Annual Report National leadership DIFP continues to make a national mark as a leader in state-based regulation. Numerous representatives of the department hold positions in national associations, giving prominent voice to Missouri’s common-sense approach to regulation and consumer protection. INSURANCE Disaster Recovery Coordinator NURSING The National Council of State CONSUMER LENDING Lisa Crump was State Board of Nursing Boards of Nursing appointed Joe Crider, supervisor of consumer elected Executive Director Lori Debra Funk as a member credit for the Division of Finance, to the Insurance Scheidt, of the NCLEX Item Review served as past Regulatory left, was Subcommittee. NCLEX is the president of the Examiners honored exam nurses must take to be National Association Society Board. by the licensed. of Consumer Credit National Administrators. He Market Conduct Examiner Gary Council was president in Kimball, of State MASSAGE THERAPY 2009. left, Boards of Loree Kessler received the President’s Director John Huff received the Nursing, Nurse Licensure Award from the American was appointed to the President’s Models Committee, for Massage Therapy REAL ESTATE U.S. Financial Stability Award 10 years of service as Association – Missouri Janet Carder, executive director Oversight Council by the from the director of the Board of chapter. She is executive of the Missouri National Association of Insurance Nursing. She also serves director of the Board of Real Estate Insurance Commissioners on that committee. She Therapeutic Massage, Regulatory Commission, is 2011 in September 2010. He is has served on numerous Chiropractic Examiners, Marital and Family Examiners serving on the the only state insurance Therapists and Professional Counselors. Society. national and state board of directors regulator on the council, committees and received for the Association which was created by federal a national award for of Real Estate law to provide, for the ARCHITECTS, CPAs outstanding contribution to License Law Officials, an first time, comprehensive monitoring to ensure the ENGINEERS, SURVEYORS nursing regulation, as well State Board of Accountancy Executive international organization. Judy Kempker, as the Missouri Governor’s Director Pamela Ives Hill stability of the nations executive Award for Quality and was appointed chair for financial system. Above, he NATIONAL AWARD director of Productivity. the Executive Directors testifies before a U.S. House committee on July 28, 2011. the Board of Committee for the National FOR AUTISM WORK Architects, Registered nurse Bibi Association of State Boards DIFP in 2011 became the first In November 2011, he was Professional Schultz was appointed of Accountancy. She also state insurance elected chair of the Midwest Engineers, to the serves as executive director department to Zone of NAIC, making him a Professional Land Surveyors Nursing liaison to the Board of National Association receive an award member of the association’s and Landscape Architects, Education of State Boards of Accountancy. from Autism executive committee. The is an associate member of Commit- Speaks, the nation’s zone includes insurance three boards: National Council tee of the largest advocacy departments in Missouri, of Architectural Registration National COMBATIVE SPORTS group for autism. Iowa, Oklahoma, Kansas, Boards; National Council of Council Combative Sports The award was Nebraska, Wisconsin, Examiners for Engineering of State Administrator Tim presented to DIFP for outstanding Minnesota, Illinois, Indiana, and Surveying; and Council Boards of Lueckenhoff is president implementation of Missouri’s North and South Dakota, of Landscape Architectural Nursing. of the Association of autism insurance law, signed by Michigan and Ohio. Registration Boards. Boxing Commissioners. Gov. Nixon in 2010. 23 >>> >>> Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationDIFP Top 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

DIFP Department of Insurance, 2011 Annual Report Financial Institutions & Professional Registration UPLOADED MARCH 2012 Online complaint forms and subscription service @ difp.mo.gov File a complaint against licensed professionals such as doctors, nurses and barbers or businesses such as insurance companies, banks, credit unions, mortgage brokers, lenders and vehicle service contract providers. Subscribe to the latest news from our divisions. 24 >>> >>>Leadership Responding to disasters Insurance Consumer Affairs Administration Professional RegistrationTop 10 accomplishments Joplin tornado recovery Insurance Market Regulation Finance National leadership Joplin tornado timeline Insurance Company Regulation Credit Unions

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2011 Missouri DIFP Annual Report

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2011 Missouri DIFP Annual Report Presentation Transcript