Insurance commissioners are charged with protecting consumers in two ways.
They oversee insurers' financial health to ensure they will be able to pay consumers' claims in the future, and they monitor market behavior to make sure that regulated entities treat consumers fairly.
Arguably, every activity and initiative that an insurance regulator engages in and pursues should fall under one of those functions. There have been instances, however, in which regulators appear to be using the power of their offices to promote causes that are outside their scope. These instances raise serious questions about the proper exercise of state insurance regulatory authority.
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