April 6, 2011

DIFP releases 2010 Annual Report

After 140 years of printing, department takes report online

Link to 2010 Annual ReportJefferson City, Mo. - The Missouri Department of Insurance, Financial Institutions and Professional Registration continues to respond to Gov. Jay Nixon's call for more efficient government, this time by creating an annual report intended exclusively for online viewing. Since 1870, Missouri's insurance regulators have produced some form of published report, many of which were more than 200 pages. Gov. Nixon has directed all state agencies to improve efficiencies and maximize technology wherever possible.

The DIFP's 2010 Annual Report is a 19-page review of department operations and accomplishments in the past year. The document is optimized for viewing on a computer monitor, rather than a printed page. It is also fully interactive, offering links, charts and other illustrations of data and trends in the regulation of insurance, banking and other industries.

Most significantly, the annual report offers embedded video interviews with the DIFP leadership team. The videos offer a more personal review from DIFP Director John M. Huff and the department's seven division directors as they describe their areas of responsibility and the highlights of 2010.

"We strive to reduce cost and paperwork and leverage technology any time it can improve operations and better serve consumers and taxpayers," said Huff. "Our 2010 Annual Report points to numerous signs of recovery in the financial sector, as Missouri's economy moves forward."

Among the department's accomplishments of 2010:

  • Provided effective regulation of more than 500,000 individuals and companies doing business in Missouri
  • Led implementation efforts for Missouri's new autism insurance law, which requires health insurance coverage for applied behavior analysis therapies
  • Returned nearly $11 million for consumers from their banks, lenders and insurance companies
  • Expanded consumer protection by licensing three new industries: private investigators, behavior analysts and mortgage originators

Other government efficiencies by DIFP under Huff's leadership include online tools for consumers filing complaints against banks, credit unions and insurance companies; online licensing for insurance agents; electronic filing of forms required from insurance companies; and a virtually paperless consumer complaint system in the insurance divisions.

The report is available at the department's website, difp.mo.gov.

The electronic report is the latest in a series of innovative steps taken by Missouri state agencies following Gov. Nixon's directive: The Office of Administration recently announced the state has received a prestigious national ranking for doing government business online. The Ewing Marion Kauffman Foundation ranked Missouri 10th among states providing e-government services.

About the Missouri Department of Insurance, Financial Institutions & Professional Registration

The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.

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