Mississippi Commissioner of Insurance

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Contents

The Mississippi Commissioner of Insurance is an elected state executive position in the Mississippi state government.

The Commissioner executes all laws related to insurance companies, corporations, associations and fraternal orders, their agents and adjusters. The Commissioner also serves as State Fire Marshal and administers the Mississippi Fire Prevention Code.

Current officeholder

The current officeholder is Mike Chaney (R). He was elected in 2007 and re-elected in 2011.

Authority

The Mississippi Insurance Department was created by an Act of the Mississippi legislature in 1902, which also provided for the election of the first Insurance Commissioner in 1903. Each subsequent legislature has expanded the role of the commissioner.[1]

Qualifications

To qualify to run for Insurance Commissioner, candidates must be:[2]

  • at least 25 years of age
  • a qualified elector
  • citizen of Mississippi for 5 years

Elections

Mississippi elects insurance commissioners to four-year terms during gubernatorial election years. For Mississippi, 2003, 2007, 2011, and 2015 are all insurance commissioner election years.

Duties

The duties of the Commissioner are outlined on the Insurance Department website:

The Commissioner is charged with execution of all laws relative to insurance companies, corporations, associations and fraternal orders, their agents and adjusters. The duties of the Insurance Commissioner are varied and are both administrative and regulatory. The Commissioner is also the State Fire Marshal and directs the investigation of all fires of a suspicious nature. Through the State Fire Marshal Division, the Commissioner administers the Mississippi Fire Prevention Code. The Commissioner, through the Fire Service Development Division, established guidelines, use and accountability for municipal and county fire protection funds. The Commissioner administers the Liquefied Compressed Gas Equipment Law and enforces the National Fire Protection Association Code.”[3]

Divisions

The Department of Insurance is under control of the Commissioner of Insurance. The Department is divided into ten divisions, all of whom report directly to the Deputy Commissioner.[4]

Administrative Services Division

The mission of the Administrative Services Division is “providing support to the agency in the most professional and efficient manner possible, enabling the agency to carry out its mission at the lowest possible cost to the state's taxpayers.” The Division is divided into Accounting and Finance, Human Resources, and Administrative Support.




Consumer Services Division

The mission of the Consumer Services Division is "mediating and resolving conflicts between the insurance industry and Mississippi residents. The Division provides information to the public, assisting consumers in all phases of their insurance business. The Division receives complaints from and interviews policyholders who feel they have not received fair consideration by insurance companies or agents, and takes corrective action against such offenders when appropriate."


Investigations and Consumer Protection Division

The mission of the Investigations and Consumer Protection Division "is to maintain order in the Mississippi insurance market by reducing fraud and ensuring consumer protection for all Mississippi citizens."


Financial and Market Regulation Division

The mission of the Financial and Market Regulation Division is "regulation of approximately two thousand entities’ financial and non-financial operations. This Division utilizes desk audits and on-site examinations to verify the entities’ compliance with Mississippi insurance laws and regulations."


Legal Division

The mission of the Legal Division is "consulting with the Commissioner and Deputy Commissioner, as well as technical and professional staff, to insure compliance with state law and Department rules and regulations. The Division also represents the Commissioner in various proceedings regarding receiverships, liquidations and insolvencies of insurance companies. The Division serves as legal counsel for the Commissioner of Insurance, the State Fire Marshal Division, the Liquefied Compressed Gas Division, and the Mississippi State Fire Academy."


Licensing Division

The mission of the Licensing Division is "licensing insurance producers, agents and business entities. The Division ensures that all applicants have complied with the licensing laws prior to receiving a license to engage in the business of insurance in the State of Mississippi. The Division’s primary goals are to provide prompt and efficient customer service, attain uniformity with other states and comply with the provisions of the Gramm-Leach-Bliley Act."


Management Information Services Division

The mission of the Management Information Services Division is "serving as a strategic planning partner and proactive participant with the other divisions of the Department, other state agencies and other state’s Insurance Commissioners (through the National Associations of Insurance Commissioners (NAIC))."


Property and Casualty Rating Division

The mission of the Property and Casualty Rating Division is "reviewing the rates, rules and forms for all property and casualty policies sold by licensed insurance companies in the State."


Public Relations Division

The mission of the Public Relations Division is "coordinating a public information program to publicize and advance Department objectives and consumer-related issues."


Statutory Compliance Division

The mission of the Statutory Compliance Division is "issuance of new and renewal licenses for all insurance companies, health maintenance organizations (HMOs), societies and associations doing business in Mississippi."


Compensation

See also: Compensation of state executive officers

In 2012, the Mississippi Commissioner of Insurance was paid an estimated $85,500. This figure comes from the Council of State Governments.

Former officeholders

Since 1903, Mississippi has had 11 officeholders.

Click "show" for former officeholders.

Contact information

Mailing Address: Mississippi Insurance Department
P.O. Box 79 Jackson, MS 39205-0079
Street Address: Mississippi Insurance Department
1001 Woolfolk State Office Building
501 N.West St.
Jackson, MS 39201
Phone: 601-359-3569
Fax: 225-922-1234
Email: commissioner@mid.state.ms.us

See also

External links

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References

  1. ↑ Insurance Department of Mississippi, "MID Mission and History," retrieved April 17, 2011
  2. ↑ ‘’Mississippi Secretary of State, “Qualifications and fees for Mississippi candidates,” retrieved April 17, 2011
  3. ↑ ‘’ Mississippi Insurance Department, “Mission and History,” retrieved April 17, 2011
  4. ↑ ‘’Mississippi Insurance Department, “Office of the Deputy Commissioner,” retrieved April 17, 2011
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