What is the primary regulatory authority for insurance in West Virginia?

The primary regulatory authority for insurance in West Virginia is the West Virginia Insurance Division. This department is tasked with overseeing the insurance industry within the state, ensuring compliance with state laws and regulations, protecting consumers, and maintaining the financial viability of insurance companies operating in West Virginia.

The West Virginia Insurance Division operates under the Office of the Insurance Commissioner, which is responsible for the regulation of all insurance-related activities, including the licensing of insurance companies and agents, monitoring solvency, and enforcing consumer protection laws. This specific focus on the insurance industry distinguishes it from other entities like the Department of Finance, which deals with broader financial matters and does not have a singular focus on insurance regulation.

Similarly, the term "Division of Insurance" is commonly used in many states, but the official naming and designation in West Virginia is specifically the Insurance Division. The term "State Insurance Department" is also broad and may refer to similar agencies in different jurisdictions, but in West Virginia, the legally recognized authority is the Insurance Division. Thus, the designation of the West Virginia Insurance Division accurately reflects its role as the main regulatory body, which is why it is the correct answer.