What is the main function of the Georgia Department of Insurance?

The main function of the Georgia Department of Insurance is to regulate the life insurance industry. This regulatory role involves overseeing insurance products and companies to ensure they comply with state laws and regulations. By regulating the industry, the department works to protect consumers, maintain fair competition, and ensure the financial stability of insurance providers. This includes licensing insurance agents, enforcing consumer protection laws, and monitoring the financial practices of insurers to ensure they meet obligations to policyholders.

In contrast, providing insurance directly to citizens, acting as a broker for health insurance, and setting insurance rates for all companies fall outside the primary regulatory functions of the Department. While they may have ancillary roles or partnerships with other organizations, the core responsibility of the Department is focused on regulation and oversight rather than direct provision or brokerage of insurance services.