What is the official name of the department agency or office in charge of insurance regulation for Virginia?

The insurance commissioner is a state-level position in all 50 states. The duties of the position vary from state to state, but their general role is as a consumer protection advocate and insurance regulator. The position is elected in 11 states and appointed in 39.

Insurance regulation is one of the older state government functions, with most states having insurance departments dating back to the late 19th century. Generally speaking, their role has not changed much since then.[1]

Method of selection

Although insurance commissioners are appointed in the majority of states, 11 states hold partisan elections for the office. Of the 39 states in which the insurance commissioner is appointed, 37 give the power of appointment to the governor; in New Mexico and Virginia, the insurance commissioner is appointed by a commission.

Partisan affiliation

The office of insurance commissioner is nonpartisan in 38 states. The 12 states in which the position is partisan include the 11 states where the insurance commissioner is elected, as well as Ohio. Of the 12 states where the insurance commissioner has a partisan affiliation, the office is held by a Democrat in three and a Republican in nine.

Compensation

According to compensation figures for 2017 compiled by the Council of State Governments in the Book of the States, the largest salary for an insurance commissioner is $202,383 in Texas, while the lowest is $86,003 in Wyoming. Salary information was not available for Minnesota. To view the compensation of a specific insurance commissioner, hover your mouse cursor over the state.[2]

Current commissioners

Note: If an office becomes vacant, it will appear in a separate table below the list of current officeholders.

List of All Current State Insurance Commissioners in the United States:

There are no vacancies at this time.

Election history

2022

Four states held elections for insurance commissioner in 2022:

• California
• Georgia
• Kansas
• Oklahoma

2021

No state held elections for insurance commissioner in 2021.

2020

Four states held elections for insurance commissioner in 2020:

• Delaware
• North Carolina
• North Dakota
• Washington

2019

Two states held elections for insurance commissioner in 2019:

2018

Four states held elections for insurance commissioner in 2018.

• California
• Georgia
• Kansas
• Oklahoma

2016

Five states held elections for insurance commissioner in 2016:

• Delaware
• Montana
• North Carolina
• North Dakota
• Washington

Two states were holding scheduled elections for insurance commissioner in 2015: Louisiana and Mississippi. Incumbents Mike Chaney (R) of Mississippi and James Donelon (R) of Louisiana were re-elected.

2014

Four states held regularly scheduled insurance commissioner elections in the 2014 electoral cycle: California, Georgia, Kansas and Oklahoma.

2013

There were no elections in 2013 for insurance commissioners.

2012

Five states held scheduled insurance commissioner elections in the 2012 electoral cycle: Delaware, Montana, North Carolina, North Dakota and Washington.

In all five states, incumbents won re-election on November 6, 2012. A special note, with respect to Montana, the insurance commissioner is also the state auditor.

Duties by state

Each state has a regulatory agency that oversees insurance companies and sellers, but the responsibilities of those departments vary considerably. The position of insurance commissioner is mostly a department administrator, though the duties of the departments by state influence the work that is overseen.

Alabama

Alabama has twelve departments in its Department of Insurance. While a few of those handle inter-departmental issues, the insurance agency also includes the state Fire Marshall and regulation of "preneed" companies in the state.[3]

Alaska

Alaska's Division of Insurance conducts only the most basic functions of most state insurance departments. There, the commissioner is the head of the Investigative Section, Consumer Services Section, Licensing Section, Actuarial, Filings Review and Market Regulation Section and Financial Section.[4]

Arizona

• To see the 2009-2010 Arizona Department of Insurance's Annual Report, click here.

Arkansas

The Arkansas Insurance Department has seventeen divisions that handle an array of responsibilities. Notably, Arkansas has created two divisions to cooperate with the 2010 Patient Protection and Affordable Care Act: one helps citizens compare insurance rates in the state, while the other provides explanations for any rate increases.[5]

California

The California Department of Insurance was created in 1868. The authority of the branch comes from the Legal Division, which issues orders against licensees. In California, the department also rehabilitates troubled insurance companies.[6]

Colorado

Colorado began regulating insurance though the office of the state auditor in 1883. It was not until the Administrative Organization Act of 1968 that the Department of Regulatory Agencies was created. Along with insurance, the agency also includes divisions on banking, civil rights, consumer affairs, financial services, public utilities, real estate, registrations, and securities.[7]

Connecticut

The Connecticut Department of Insurance has six main duties - licensing insurance companies, regulating insurance policy forms, rates and programs, licensing insurance producers, examining the financial condition of insurance companies, and handling insurance complaints.[8]

Delaware

The Delaware Insurance Department consists of five divisions - the Bureau of Captive & Financial Insurance Products, Bureau of Company Examination, Rehabilitation & Guaranty, Consumer Services & Investigations Division, Fraud Prevention Bureau, and the Producer Licensing & Continuing Education Division.[9]

Florida

The mission statement of the Florida Department of Insurance is as follows:[10]

To ensure that insurance companies licensed to do business in Florida are financially viable, operating within the laws and regulations governing the insurance industry; and offering insurance policy products at fair and adequate rates which do not unfairly discriminate against the buying public.

Georgia

Originally known as the Comptroller General, the office has operated continually in Georgia since 1799. Since then various duties have been added over the years, and in 1983 the title was officially changed to Office of Commissioner of Insurance. The full title is now the Office of Insurance and Safety Fire Commissioner.[11]

Hawaii

The Hawaii Insurance Commissioner's office is a part of the Department of Commerce and Consumer Affairs. The office consists of seven branches to oversee the insurance industry: Financial Surveillance and Examination, Compliance and Enforcement, Licensing, Rate and Policy Analysis, Captive Insurance, Insurance Fraud Investigation, and Health Insurance.[12]

Idaho

While the Idaho Department of Insurance did not exist until 1911, the office of Insurance Commissioner was created in 1901. Prior to 1901, insurance companies were licensed through the general corporations law.[13]

Illinois

The mission statement of the Illinois Department of Insurance reads:

To protect consumers by providing assistance and information, by efficiently regulating the insurance industry's market behavior and financial solvency, and by fostering a competitive insurance marketplace.

It is made up of the Consumer Market Division, Legal Division, and Financial-Corporate Regulatory Division.[14]

Indiana

The Indiana Department of Insurance protects citizens during buying and use of insurance products. They also regulate the insurance companies in the state.[15]

Iowa

The Iowa Insurance Division consists of five bureaus - Market Regulation Bureau, Company Regulation Bureau, Senior Health Insurance Information Program, Securities and Regulated Industries Bureau, and the Insurance Fraud Bureau.

The mission statement of the Division reads:

The Iowa Insurance Division shall protect consumers through consumer education and by effectively and efficiently providing a fair, flexible and positive regulatory environment. [16]

Kansas

The duties of the Kansas Department of Insurance include regulating and reviewing companies, educating consumers, assisting consumers, and licensing agents.[17]

(adsbygoogle = window.adsbygoogle || []).push({}); Kentucky

The Kentucky Department of Insurance includes a multitude of divisions and programs, including: Administrative Services, Agent Licensing, Communications and Public Outreach, Consumer Protections, Commissioner’s Office, Financial Standards and Examinations, Health and Life, Information Technology, Insurance Fraud Investigation, Legal Services, Market Conduct Regulation, Property and Casualty, and Kentucky Health Insurance Advocate.[18]

Louisiana

Ten divisions make up the Louisiana Department of Insurance - Consumer Advocacy, Public Affairs, Receivership, Financial Solvency, Licensing & Compliance, Health Insurance, Property & Casualty, Legal Services, Minority Affairs, and Management & Finance.[19]

Maine

The mission statement in Maine states:[20]

The Maine Bureau of Insurance regulates the insurance industry to protect and to serve the public.

Duties of the Bureau include licensing insurance companies, performing examinations and audits, reviewing rates and coverage, investigating complaints, and educating citizens of the state about their rights and responsibilities.

Maryland

The Maryland Insurance Administration was first created in 1872 under the State Comptroller. Renamed the State Insurance Department in 1878, it changed to the division of Labor, Licensing and Regulation Department in 1970. In 1993 the General Assembly created an independent Maryland Insurance Administration.[21]

It consists of the following divisions - Office of the Commissioner, Administration, Compliance & Enforcement, Consumer Education and Advocacy Unit, Examination & Auditing, Insurance Fraud Division, Life & Health, Producer Licensing, and Property & Casualty.

Massachusetts

In Massachusetts, insurance is part of Consumer Affairs and Business Regulation. Duties include strictly regulating insurance companies, licensing insurance companies, studying financial conditions and market conduct of insurance companies, regulating insurance rates and programs, licensing sellers, and handling insurance complaints.[22]

Michigan

The Insurance Department in Michigan consists of the following divisions: Administrative Services, Consumer Services, Enterprise Monitoring, Bank & Trust, Credit Union, Licensing & Product Review, Securities, Health Plans, Policy, and Supervisory Affairs and Insurance Monitoring.

Minnesota

The insurance regulation in Minnesota is part of the state Department of Commerce, which is headed by the Commerce Commissioner.

The office states:

Our mission is to ensure that consumers and industry are treated fairly in the thousands of insurance transactions that take place each year in Minnesota. We also focus on providing efficient and professional service.[23]

Mississippi

The Mississippi Insurance Department was created in March 1902 by an act of the Mississippi Legislature. The first commissioner was elected in 1903.

The earliest report filed by the commissioner was in 1905, at which time there were 126 insurance companies in the state. 100 years later, 2,318 companies were licensed to sell insurance in Mississippi.[24]

Missouri

The Missouri Department of Insurance, Financial Institutions & Professional Regulation is composed of seven divisions: Insurance Commissioner Affairs, Insurance Company Regulation, Insurance Market Regulation, Finance, Credit Unions, Professional Registration, and Resource Administration.[25]

To read the most recent report from the agency, click here.

Montana

The Insurance Division falls within the office of the Montana State Auditor. The Insurance Commissioner is responsible for regulation of the industry, which is the third largest in the state.[26][27]

Nebraska

The mission statement of the Nebraska Department of Insurance is:

To safeguard those affected by the business of insurance through the fulfillment of our statutory obligations and by promoting the fair and just treatment of all parties to insurance transactions.[28]

(adsbygoogle = window.adsbygoogle || []).push({}); Nevada

To read the most recent news from the Nevada Department of Insurance, check here.

New Hampshire

The state of New Hampshire was the first to create a insurance regulatory agency in the nation. It was created in 1851.[29]

New Jersey

The Division of Insurance is a part of the New Jersey of Banking & Insurance. The mission statement of the division is: "The mission of the Department of Banking and Insurance is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of those industries."[30]

New Mexico

New Mexico is one of the few states in which the Department of Insurance also includes the state includes the Workers' Compensation Bureau. [31]

To learn more about the divisions of the bureaus, visit: this link.

New York

The first insurance regulatory agency was created in New York in 1859. It was reorganized in 1925, along with the rest of state government.

The New York State Insurance Department was merged with the state Banking Department to officially create the Department of Financial Services on October 3, 2011.[32]

North Carolina

The North Carolina Department of Insurance was created in 1899 by the General Assembly.

The insurance commissioner must approve any insurance company in the state before commencing operations.[33]

North Dakota

The Insurance Department of North Dakota has seven divisions:

• Administration; Agent Licensing; Consumer Assistance; Examinations and Company Licensing; Legal Fraud Investigations and Enforcement; Product Filing and Special Funds

[34]

Ohio

The mission of the Ohio Department of Insurance is to provide consumer protection through education and fair but vigilant regulation while promoting a stable and competitive environment for insurers.[35]

For more information, visit:Ohio Department of Insurance, About ODI

Oklahoma

In addition to its insurance services offerings, the Oklahoma Insurance Department is also in charge of regulating bail bonds and real estate appraisals.[36]

Oregon

The mission of the Insurance Division is to administer the Insurance Code for the protection of the insurance-buying public while supporting a positive business climate.[37]

Pennsylvania

• To learn more about divisions in the Pennsylvania Insurance Department, visit: this website.

Rhode Island

The Commissioner of Insurance also serves as Director of the Department of Business Regulation. In this capacity, she or he acts as State Banking Commissioner, Real Estate Administrator and State Boxing Commissioner.[38]

South Carolina

The mission of the State of South Carolina Department of Insurance is to protect the insurance consumers, the public interest, and the insurance marketplace by ensuring the solvency of insurers; by enforcing and implementing the insurance laws of this State; and by regulating the insurance industry in an efficient, courteous, responsive, fair, and equitable manner.[39]

(adsbygoogle = window.adsbygoogle || []).push({}); South Dakota

To learn more about the South Dakota Division of Insurance, visit its website.

Tennessee

The Commissioner of Insurance is the head of the Department of Commerce & Insurance. The administrator also oversees: the Division of Consumer Affairs, the Securities Division, TennCare Oversight Division, Division of Fire Prevention and the Division of Regulatory Boards. [40]

Texas

In addition to regulating insurance in the state, the Texas Department of Insurance also includes the State Fire Marshal and Workers' Compensation division.[41]

To read the December 2010 biennial report of the department, click here.

Utah

The Mission of the Utah Insurance Department is to foster a healthy insurance market by promoting fair and reasonable practices that ensure available, affordable and reliable insurance products and services.[42]

Vermont

The Insurance Commissioner in the states also heads the Department of Banking, Insurance, Securities and Healthcare Administration.[43]

Virginia

The Virginia Bureau of Insurance is part of the Commonwealth of Virginia State Corporation Commission.

It is divided into four divisions: Financial Regulation, Life and Health Market Regulation, Property and Casualty Market Regulation and Agent Regulation and Administration. To learn more about the duties of these divisions, click here.

Washington

The Office of the Insurance Commissioner is not funded through public means. The administrative fees charged to insurance companies covers the cost of running the agency.[44]

The office was created in 1889 to register insurance companies through the Secretary of State's office. Eighteen years later, it became a separate agency.[45]

West Virginia

The West Virginia Offices of the Insurance Commissioner creates numerous reports in addition to its standard yearly report. One interesting comparison is the yearly Deer Vehicle Crash Report. This study shows that in 2009 alone, the state lost $57.2 million in deer-vehicle claims.

To examine the 2010 Annual Report from the office, click here.

Wisconsin

The Office of the Commissioner of Insurance created in 1871 to regulate the insurance industry to match the needs of the citizens of the state. According to the office website, the goals of the agency have not changed much in the last 125 years.[46]

Wyoming

The Wyoming Insurance Department is split into five divisions: Licensing, Examination, Consumer Complaints, Policy Filings and Premium Tax Collection. [47]

The link below is to the most recent stories in a Google news search for the terms Insurance Commission Department State. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.

See also

• State executive offices
• State executive official elections, 2012
• State executive official elections, 2013
• State executive official elections, 2014
• State executive official elections, 2015
• State executive official elections, 2016
• State executive official elections, 2017
• State executive official elections, 2018
• State executive official elections, 2019
• State executive official elections, 2020
• State executive official elections, 2021
• State executive official elections, 2022

External links

1. ↑ Governing, "The Nation's Only Health Insurance Commissioner Takes on the Health-Care System," February 2011
2. ↑ Council of State Governments, "Book of the States 2017 - Selected State Administrative Officials: Annual Salaries," accessed October 22, 2017
3. ↑ Alabama Department of Insurance, Divisions
4. ↑ Alaska Division of Insurance, 72nd Annual Report
5. ↑ Arkansas Insurance Department
6. ↑ California Department of Insurance, About Us: An Introduction to CDI Operations
7. ↑ Colorado Department of Regulatory Agencies, "History of DORA," accessed April 28, 2011
8. ↑ Connecticut Insurance Department, "Purpose and Duties of the Connecticut Insurance Department"
9. ↑ Delaware Insurance Commissioner & Department of Insurance, "About the Agency"
10. ↑ Florida Department of Insurance Regulation, "Mission Statement"
11. ↑ Georgia Office of Insurance and Safety Fire Commissioner, "Our Divisions," accessed April 28, 2011
12. ↑ Hawaii Insurance Commissioner, "Insurance," accessed April 28, 2011
13. ↑ Idaho Department of Insurance, "Department of Insurance History," accessed April 28, 2011
14. ↑ Illinois Department of Insurance, "About" (dead link)
15. ↑ Indiana Department of Insurance
16. ↑ Iowa Insurance Division, "About Us" (dead link)
17. ↑ Kansas Insurance Department, "Our Mission"
18. ↑ Kentucky Department of Insurance, "Our Divisions/Programs"
19. ↑ Louisiana Department of Insurance
20. ↑ Maine Bureau of Insurance, "About Us"
21. ↑ Maryland Insurance Administration, "Historical Information" (dead link)
22. ↑ Massachusetts Division of Insurance, "Primary Duties" (dead link)
23. ↑ Minnesota Department of Commerce, "Insurance Gateway," accessed April 28, 2011
24. ↑ Mississippi Insurance Department, "History"
25. ↑ Missouri Department of Insurance, Financial Institutions & Professional Registration, "About DIFP"
26. ↑ Montana Insurance Division, Overview (dead link)
27. ↑ State Auditor’s Office, Agency Goals and Objectives
28. ↑ Nebraska Department of Insurance, About NDOI
29. ↑ New Hampshire Insurance Department, History
30. ↑ State of New Jersey Department of Banking & Insurance, Meet the Commissioner
31. ↑ Workers’ Compensation Bureau
32. ↑ New York Department of Financial Services, "About Us," accessed October 30, 2011
33. ↑ North Carolina Department of Insurance, About the NCDOI (dead link)
34. ↑ North Dakota Insurance Department, About Us, Divisions and programs
35. ↑ Ohio Department of Insurane, Our Mission
36. ↑ Oklahoma Insurance Department, About ODI (dead link)
37. ↑ Oregon Insurance Division, Organization
38. ↑ State of Rhode Island, Department of Business Regulation, About DBR
39. ↑ South Carolina Department of Insurance, About SCDOI (dead link)
40. ↑ Tennessee Department of Commerce and Insurance, What We Do
41. ↑ Texas Department of Insurance website
42. ↑ Utah Department Insurance, Mission Statement
43. ↑ Vermont Department of BISH, About Us
44. ↑ Washington State, Office of the Insurance Commissioner, About us
45. ↑ Agency history
46. ↑ Wisconsin Office of the Commissioner of Insurance, About OCI
47. ↑ Wyoming Insurance Department, Who We Are and What We Do