New York State Property and Casualty Licensing Practice Exam 2025 - Free Property and Casualty Practice Questions and Study Guide

The role of the Superintendent of Insurance primarily involves the regulation and oversight of the insurance industry within the state. One of the key functions includes regulating insurer activities to ensure they comply with existing laws and protect consumers. Additionally, monitoring solvency is critical as it pertains to ensuring that insurers maintain the financial stability necessary to meet their obligations to policyholders. Licensing agents is another vital role, as it ensures that those selling insurance are qualified and adhere to relevant requirements.

Creating insurance laws, however, is not a responsibility of the Superintendent. Rather, this role typically falls to the legislative body of the state, which enacts laws that regulate the insurance industry. The Superintendent implements and enforces these laws but does not have the authority to create them. This distinction clarifies why this function does not align with the Superintendent's responsibilities.