Does Massachusetts have an insurance commissioner?
Gary D. Anderson was appointed Commissioner of the Massachusetts Division of Insurance by the Governor of Massachusetts on October 31, 2017.
What role does the commissioner of insurance play?
The purpose of insurance commissioners is to maintain fair pricing for insurance products, protecting the solvency of insurance companies, preventing unfair practices by insurance companies, and ensuring availability of insurance coverage. Approval of insurance rates. Periodical financial examinations of insurers.
Who oversees insurance companies in Massachusetts?
The Division of Insurance (DOI) administers the Commonwealth’s laws pertaining to the protection of the insurance consumer through the regulation of the insurance industry.
How do you respond to an insurance complaint?
A good response will concisely address the customer’s complaint and include supporting documentation. An agent should never include any irrelevant information in the response, as it may be used against an agent by the department or a plaintiff’s attorney.
Who governs medical insurance companies?
The State Insurance Regulatory Authority
The State Insurance Regulatory Authority (SIRA) can help resolve disputes with workers compensation, home building compensation and motor accident CTP insurers. SIRA regulates workers compensation, home building compensation insurance and motor accidents CTP (green slip) insurance in NSW.
What is the basic mandate of the Insurance Commission?
Pursuant to the mandate of the Insurance Commission to assist the general public on matters relating to insurance and pre-need, a total of about 24,871 claims, cases, complaints, disputes, inquiries and mediations were acted upon within the prescribed period in 2015.
Who is over the insurance companies?
CDI enforces the insurance laws of California and has authority over how insurers and licensees conduct business in California.
What is DOI in insurance?
Department of Insurance (DOI) means the State agency or regulatory authority that, among other things, licenses, oversees, and regulates Issuers, Agents, and Brokers, as applicable.
What happens when an individual insurance company has had many complaints ruled against it?
The patient has insurance coverage. What happens when an individual insurance company has had many complaints ruled against it? The company will have a federal ruling against it. The provider and its entire staff cannot discriminate or change policies from one patient to the next.
What is the main reason for regulating the insurance industry?
The fundamental reason for government regulation of insurance is to protect American consumers. State systems are accessible and accountable to the public and sensitive to local social and economic conditions.