The purpose of government supervision is to make sure the critical personal interests of consumers are not lost in the arena of commercial competition. Once the consumer protection responsibilities of government insurance regulators are satisfied, it is fair to ask how the system of regulation can be made most compatible with the demands of commercial [...]
The fundamental purpose for government regulation of insurers and agents is to protect American consumers. Effective consumer protection that focuses on local needs is the hallmark of state insurance regulation. State regulators understand local and regional markets and the needs of consumers in these markets. State policymakers recognize that consumer protection as their highest job [...]
How do I know if an insurance company is financially stable? Insurance companies in the State of Florida are regulated by the Florida Department of Financial Services. In addition, there are several private companies, such as AM Best and Demotech that rate the financial strength of insurers across the country.