What is the primary function of the Connecticut Insurance Department?

The primary function of the Connecticut Insurance Department is to regulate insurance companies and protect consumers. This regulatory body is responsible for ensuring that insurance providers operate fairly and within the legal frameworks established by state laws. It oversees the operations of insurers, ensuring they adhere to standards that protect the interests of policyholders, such as solvency requirements, fair pricing practices, and the provision of accurate information about insurance products.

This regulatory oversight includes reviewing new insurance policy forms before they can be sold, monitoring the financial health of insurance companies, and addressing consumer complaints. By focusing on consumer protection and fair competition, the department helps maintain trust in the insurance market.

While training insurance adjusters and auditing claims are important aspects within the broader insurance framework, they do not encompass the primary responsibilities of the department. The creation of new insurance policies is typically the responsibility of insurance companies themselves rather than a regulatory agency.