What is the function of the "insurance commissioner"?

The role of the insurance commissioner is primarily to regulate the insurance industry within their jurisdiction. This includes overseeing insurance companies and ensuring they comply with state and federal laws, establishing solvency standards, and protecting consumers' interests. The commissioner has the authority to investigate complaints, approve rate changes, and ensure that insurance products are fairly marketed and sold.

While the insurance commissioner may indeed be involved in some aspects of policy changes, processing claims, or the general operation of insurance, their primary function is regulatory in nature. They set standards for the industry, monitor practices, and enact laws that benefit consumers, thereby fostering fair competition and ensuring the financial stability of the insurance market. This oversight helps to maintain a trustworthy environment for both insurance providers and policyholders.