Insurance department

{
  "id": "MLC-T-INS-001854",
  "term": "Insurance department",
  "field": "Insurance and risk management",
  "definition": "A state government agency responsible for the regulation and supervision of the insurance industry within its borders. Its duties include licensing insurance companies and agents, conducting financial examinations of insurers to monitor solvency, and approving policy forms and premium rates. The department also handles consumer inquiries and complaints against insurers, agents, and brokers.",
  "url": "https://mlchart.com/terminology/insurance/insurance-department/"
}