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

The main function of the Delaware Department of Insurance is to regulate insurance companies and protect consumers. This includes overseeing the insurance industry to ensure that companies operate fairly and transparently, maintaining the financial stability of these companies so that they can meet their obligations to policyholders. The department enforces laws and regulations designed to promote ethical practices and ensure that consumers are treated fairly, receive adequate information about their insurance options, and have access to necessary resources for filing complaints or seeking assistance.

By focusing on the regulation of insurance companies, the Department of Insurance helps maintain a competitive market that benefits consumers, ensures that insurers remain solvent, and protects the rights of policyholders.