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STATEMENT OF REVENUES

In Fiscal Year 2000/01,99 percent of the revenue received by the California Department of Insurance approximately $150 million was deposited into the Insurance Fund. Insurance Fund receipts are received from the insurance companies and brokers and agents that the Department serves and regulates. There are approximately 1,400 insurers and over 300,000 brokers and agents operating in the State of California. Both insurers and agents pay license,filing,and other fees. Insurance companies pay several assessments including Proposition 103,Fraud Workers’ Compensation,Insured Auto,and Fraud,General. Insurance companies also pay for periodic examinations to determine the fiscal reliability of the company,its general solvency and its risk assumption stability as well as insurance practice and market conduct examinations.
Statement of Revenues Received by the Department of Insurance
During the Fiscal Year 00/01
Insurance Company Licensing Fees and Penalties $23,638,000 15.7%
Insurance Company Fees,Examinations 15,405,000 10.2%
Insurance Company Fees,Proposition 103 21,595,000 14.4%
Insurance Company Fees,General 13,952,000 9.3%
Insurance Fraud Assessment 72,072,000 48.0%
Miscellaneous 3,560,000 2.4%
TOTAL INSURANCE FUND REVENUE $150,222,000 100%