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

The primary regulatory body for insurance in West Virginia is the West Virginia Division of Insurance. This division is responsible for overseeing the insurance industry within the state, ensuring that insurance companies comply with state laws and regulations, protecting public interest, and promoting fair and honest dealings in the insurance marketplace. It handles the licensure of agents and brokers, monitors market conduct, and evaluates the financial solvency of insurance providers.

While options such as the West Virginia Insurance Commission and the West Virginia Bureau of Insurance might seem similar or even related, they do not serve as the primary regulator. The Division of Insurance operates under the West Virginia Department of Financial Services, but the specific designation of "Division of Insurance" is what identifies the organization charged mainly with insurance regulation in the state. This distinction is critical in understanding the hierarchy and functions of various entities overseeing insurance operations.