August 22, 2011
Monday, August 22nd, 2011
Minnesota:
Effective immediately, a new Division of Insurance will house the Commerce Department’s insurance units, unifying regulatory oversight of all insurance activities. Consolidated under this Division will be the insurance financial solvency and actuarial groups that were formerly located within the Financial Institutions Division, the Insurance Product Filing unit, and Life, Health, Workers Comp and Self-Insurance staff. Insurance-related enforcement matters, however, will remain under the authority of the department’s Enforcement Division. In addition to the restructuring changes, the department’s Market Assurance Division will become the Enforcement Division, taking on a name that better reflects the work Commerce staff does each day. The Enforcement Division will consist of the Enforcement Unit, Insurance Fraud unit and Securities unit.