Montana State Auditor

The office of State Auditor was established by the Montana Constitution in 1972.  The specific responsibilities of the office were subsequently defined by the legislature.  The responsibilities focus on consumer protection in the areas of insurance and securities.  As a result, the Montana State Auditor is also referred to as the Commissioner of Securities and Insurance. 

The Montana Code Annotated states that the “commissioner shall administer the department to ensure that the interests of insurance consumers are protected.” In fulfilling this mandate, the State Auditor’s office conducts financial exams of insurers operating in the state, reviews insurance policies for compliance with state laws, reviews the premiums associated with those policies, audits claim processes and settlements, and acts as an intermediary in claim disputes between customers and the insurance companies.  The office also plays an important role by providing information and educational tools to assist consumers’ understanding of insurance products.

On the securities side, the office ensures that brokers/dealers are in compliance with Montana’s security laws and conducts investigations of financial ploys marketed in the state; working closely with county authorities to prosecute fraudulent schemes (such as pyramid and Ponzi schemes).

The 1972 Montana Constitution also established the Board of Land Commissioners.  The State Auditor is one of five Land Board commissioners – the others being the governor, superintendent of public instruction, secretary of state, and attorney general. The Board oversees the management of lands held by the state for the benefit of Montana’s educational institutions.