What is a key function of the Insurance Division in Iowa?

The key function of the Insurance Division in Iowa is to execute existing laws related to insurance regulation. This role includes implementing policies and overseeing the adherence to established statutes that govern the insurance industry within the state. By executing these laws, the Insurance Division ensures that insurance companies operate fairly and in compliance with regulatory standards, ultimately protecting consumers and maintaining the stability of the insurance market in Iowa.

While creating new laws, adjudicating disputes, and providing insurance education are important aspects of the broader insurance landscape, they do not primarily define the function of the state insurance regulatory body. Instead, those activities may involve legislative bodies, the court system, or educational institutions, respectively. The emphasis on executing laws underscores the regulatory framework designed to monitor and enforce compliance among insurers, safeguarding the interests of all stakeholders involved.