Which of the following is a key function of the insurance commissioner?

Issuing licenses is indeed a key function of the insurance commissioner. This role is crucial in ensuring that only qualified individuals and entities are permitted to operate within the insurance industry. By issuing licenses, the commissioner helps uphold the integrity of the insurance market, ensuring that agents and brokers meet necessary standards of knowledge and ethical behavior before they can sell insurance products to consumers.

The licensing process is a safeguard for consumers, as it helps to prevent fraud and maintain a level of professionalism among those who provide insurance services. It ensures that those who are representing insurance companies or acting as brokers have undergone the proper training and are knowledgeable about the products they are selling as well as the legal regulations that govern their conduct.

While setting insurance rates, overseeing investment portfolios, and determining policy coverage are all important aspects of the functioning of the insurance market, they typically fall under the regulatory framework that the commissioner oversees, rather than being direct functions of licensing. Therefore, the primary focus of the insurance commissioner in this context is on issuing licenses to ensure that the individuals and companies operating within the insurance sector are properly credentialed.