What is the primary purpose of the Connecticut Insurance Department?

The main purpose of the Connecticut Insurance Department is to regulate the insurance industry and protect consumers. This involves overseeing insurance companies to ensure they operate fairly and in accordance with state laws. The department is tasked with maintaining the financial stability of insurers, which helps to guarantee that policyholders can rely on their insurance coverage when needed. Additionally, it works to ensure that consumers are treated fairly and have access to the information they need to make informed decisions about their insurance options.

While the other choices address important aspects of the insurance ecosystem, they do not capture the primary mission of the department. Financial assistance to policyholders, promoting products, or investigating fraud are functions that may fall under its broader mandate but are not the central objective. By focusing on regulation and consumer protection, the Connecticut Insurance Department aims to foster a fair and stable insurance market that ultimately benefits all stakeholders involved.