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The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six territories, [1] the NAIC is a non-governmental organization that concerns itself with insurance regulatory matters but does not actually regulate. The states have not delegated their regulatory ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
The Government of Kenya enacted the Insurance Act Kenya CAP 487 in 1985 [1] with the aim of localizing regulation of the insurance business. The newly-enacted legislation established the Department of Insurance within the Ministry of the National Treasury and Planning, headed by a Commissioner of Insurance, to supervise the insurance sector.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
An insurance commissioner (or commissioner of insurance) is a public official in the executive branch of a state or territory in the United States who, along with their office, regulate the insurance industry. The powers granted to the office of an insurance commissioner differ in each state.
The OIC is responsible for the issue of operating licenses for insurance companies and operational adherence to regulations through market supervision. Ensuring insurers adhere to capital adequacy requirements is an important aspect of the ongoing market supervision role of the OIC.
The Nationwide Multi-State Licensing System and Registry (NMLS) (originally the Nationwide Mortgage Licensing System) is the system of record for non-depository, financial services licensing or registration in participating state agencies, including the District of Columbia and U.S. Territories of Puerto Rico, the U.S. Virgin Islands, and Guam.
In 1957, the Board of Insurance Commissioners was abolished and replaced by the State Board of Insurance, consisted of three members appointed by the governor but serving a six-year term. The board determined policy and rates and authorized rules, while the commissioner was responsible for administrative operations and was appointed by the board.