Insurance commissioners are charged withprotecting consumers in two ways.
They oversee insurers' financial health to ensure they will beable to pay consumers' claims in the future, and they monitormarket behavior to make sure that regulated entities treatconsumers fairly.
Arguably, every activity and initiative that an insuranceregulator engages in and pursues should fall under one of thosefunctions. There have been instances, however, in which regulatorsappear to be using the power of their offices to promote causesthat are outside their scope. These instances raise seriousquestions about the proper exercise of state insurance regulatoryauthority.
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