Final answer:
An insurance company that has received a certificate of authority from the state to sell insurance in that state is known as a state-regulated insurer. State insurance regulators play a crucial role in overseeing insurance companies and ensuring that they comply with state laws and regulations. These regulations aim to protect consumers and maintain a stable insurance market.
Step-by-step explanation:
An insurance company that has received a certificate of authority from the state to sell insurance in that state is known as a state-regulated insurer.
State insurance regulators play a crucial role in overseeing insurance companies and ensuring that they comply with state laws and regulations. These regulations aim to protect consumers and maintain a stable insurance market.
For example, in the United States, the insurance industry is primarily regulated at the state level. State insurance regulators form organizations like the National Association of Insurance Commissioners to exchange information and strategies. They work to keep insurance prices affordable and to ensure that everyone has access to insurance. However, these goals can sometimes conflict and result in challenges for insurance companies.