19.1.4 The State Court System
...identifies and makes legal determinations involving cases of conflict between insurance companies and policyowners and enforces criminal penalties for violation of any directive of the Insurance Code.
The insurance business is subject to governmental supervision and control for three very important reasons.
- The public interest makes it a public trust.
- The financial importance and extent of the operations of the insurance companies affect the state and national economy.
- The technical character of the insurance contract requires expert control.
