Auditor’s Office Blocks $21.6 Million in Insurance Rate Hikes

Between July 1, 2024, and June 30, 2025, the Montana Auditor’s Office, also known as the Commissioner of Securities and Insurance (CSI), denied millions of dollars in proposed insurance rate increases, shielding tens of thousands of Montanans from higher premiums.

During the 12-month period, the agency’s Insurance Rates Bureau reviewed and closed 3,551 insurance rate filings. State Auditor James Brown said the reviews prevented $21.6 million in unwarranted premium increases, benefiting at least 77,314 Montana policyholders.

“One of the most important responsibilities of my office is to protect Montana consumers from unfair or unwarranted rate increases,” Brown said. “I want to applaud the work of the outstanding and dedicated professionals in our Rates Bureau. This Bureau processes and reviews thousands of insurance rate proposals every year with an eye toward making sure any rate changes are legal, justified, and actuarially sound.”

Brown emphasized that Montana families and business owners were spared significant costs thanks to the bureau’s oversight. He reaffirmed that consumer protection remains his top priority.

“Montanans should know that my office is doing its best to protect Montana consumers in keeping with what I pledged to do upon being sworn into this important position,” Brown said. “My office will continue to block unjustified rate increases and fight for common-sense reforms to make insurance more accessible and affordable.”

Under state law, insurance rates cannot be excessive, inadequate, unjustified, or unfairly discriminatory. The CSI evaluates whether filings meet these standards, including whether rates are supported by sufficient documentation, are reasonable for the benefits provided, and do not result in unfair discrimination among policyholders. The office also enforces compliance with state and federal network adequacy laws and responds to consumer complaints.

Brown will deliver a full report on the agency’s operations for fiscal year 2025 to the Legislature and the public on October 1. That report will show the CSI operated on an $11 million budget while generating $155 million in revenue for the state’s general fund.

By: DNU staff