What do insurance regulators do?

Insurance regulators in North Carolina are responsible for protecting consumers who purchase insurance products while ensuring that insurers have the financial means to pay all claims that are made. These professionals review insurance policies and regulations, investigate consumer complaints against insurance companies, and oversee the solvency of insurance providers. This helps to ensure that insurers are fiscally sound and that consumers are not subject to unfair or deceptive practices. Regulators also review rate increases that insurers attempt to make, investigate possible fraud, perform market conduct examinations, and act as liaisons between companies and consumers. They are also responsible for issuing licenses for insurers, agents, and other insurance professionals, which includes ensuring that each party meets the specified qualifications. Regulators also promote consumer education to help inform people on insurance policies and regulations. This can include seminars, public forums, and the development of resources such as pamphlets and websites. Their role is to ensure that insurers operate within the legal realm and that consumers are protected from any unfair or deceptive practices.

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What do insurance regulators do?

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