What is the role of the insurance commissioner?

In Indiana, the insurance commissioner is responsible for regulating and enforcing insurance laws to ensure that Hoosiers have access to fair and reliable insurance services. The insurance commissioner is also responsible for approving rate and form filings, investigating complaints, and taking disciplinary action when appropriate. The commissioner is also responsible for ensuring that insurance companies have sufficient reserves to pay out claims. The insurance commissioner administers the Indiana Department of Insurance, as well as the Indiana Life and Health Insurance Guaranty Association. These organizations provide oversight and regulation of insurance companies operating within the state. The commissioner also serves as the contact between insurance companies and the public, providing advice and assistance on the selection of insurance services. The insurance commissioner is also responsible for ensuring that members of the public understand their insurance policies. The commissioner works with the industry to create educational programs and materials that provide Hoosiers with the information they need to make informed insurance decisions. In short, the insurance commissioner in Indiana serves to protect consumers, ensure companies are operating responsibly, and provide Hoosiers with guidance and resources for making important insurance decisions.

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