Prairie Public Broadcasting

Hamm: Insurance Commissioner needs oversight of WSI BISMARCK, ND (Prairie Public) - The Legislature will be looking at a proposal to give the state Insurance Commissioner more oversight of the state's workers compensation agency.

Adam Hamm says the bill would give his department regulatory authority over two specific areas. One would be market conduct issues -- which Hamm says relates to consumer protection. The other would be a financial examination component.

"That's the company solvency side," said Hamm. "That makes sure WSI is not only able to pay claims in the short run, but in the long run."

Hamm says it's a two-sided coin -- making sure there's money in the bank to pay claims, and making sure claimants are treated fairly. He says these are accepted insurance regulations. He says it dove-tails with what the voters approved in November, in bringing WSI back under the Governor's control.


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