Who regulates the insurance companys?
Each insurance company that is licensed and domiciled in a state is subject to the regulation of the Department of Insurance in that state.
The National Association of Insurance Commissioners offers information and listings of all Departments of Insurance for the United States. You can review this information at their web site - http://www.naic.org/
I hope that helps! Take care and best of luck!
Each State (or province in my case - Canada) has it's own regulating body. For instance, in Ontario Canada it's called the Financial Services Commission of Ontario (FSCO).
Consumers who have a complaint about servces received by the insurance company (or lack of services for that matter), or if they have other grivences with respect to the actions of their insurance company, they can file for proceedings such as face to face mediations and/or arbitration hearings (may be called something else in your state) in order to resolve any disputes.
The system is pretty much duplicated in each province (or State in the USA.)
Best thing to do is search the net under "insurance regulatory body" for your state and you're bound to find something.
The insurance department in the state in which they are domiciled and licensed to do business.
If you have a complaint you need to got to the Financial Ombudsman.
Answers:
The Insurance industry is regulated on a state by state level. Each state has their own Insurance Commissioner, who participates on a national level with the NAIC, the National Association of Insurance Commissioners. Together they work to decide what legislation or control, if any, needs to be put in place. Because Insurance is regulated on a state basis complications arise in multi-state companies, or for those who write in multiple states. This often impedes the ability of some to access insurance, and insurance companies to access clients.
the insurance ombudsman or the FSA, addresses and tel no. are in your policy booklets.
IRDA (Insurance Regulatory and Development Authority) regulates Insurance Companies.
FSA ( Financial Services Authority )