Insurance is the 3rd largest industry in Montana. The Insurance Commissioner is responsible for the regulation of this industry. The Company Licensing and Examinations staff licenses and maintains financial information for approximately 1500 insurance entities. Producer Licensing staff licenses and processes continuing education filings for 24,000 individual and agency producer licensees. Carrier Rate and Form Filing staff review and approve rates and policy form filings for licensed carriers. The Policyholder Services staff respond to over 35,000 phone and written inquiries a year assisting consumers with their insurance needs. Insurance companies in Montana now do more than $2
billion worth of business every year. The insurance
department collects more than $40 million dollars every
year for the state government through submittal of fees and
premium taxes. |
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