What is the primary purpose of the Connecticut Insurance Department?

The primary purpose of the Connecticut Insurance Department is to oversee the insurance industry for fair practices. This responsibility involves ensuring that insurance companies operate in a manner that is just and equitable to policyholders. By regulating rates, practices, and the solvency of insurers, the department helps protect consumers and maintain a stable insurance market.

Monitoring compliance with state and federal laws also falls under the department's responsibilities, which contributes to transparency, consumer protection, and greater trust in the insurance system. This role is critical in promoting a healthy marketplace where companies can compete fairly while also safeguarding the rights and interests of policyholders.

While the department does intersect with healthcare regulation and state finances, its primary focus remains firmly on the insurance industry itself, making the oversight of fair practices its fundamental mission.