Which of the following is NOT a duty of the Alabama Insurance Commissioner?

The role of the Alabama Insurance Commissioner encompasses various responsibilities, all aimed at ensuring a fair and functioning insurance market in the state. Among these responsibilities, issuing insurance licenses is vital for maintaining regulatory oversight and ensuring that only qualified individuals and entities can sell insurance. Additionally, enforcing insurance laws is critical to protect consumers and ensure that insurance companies comply with regulations.

Regulating insurance company resources is another key duty. This involves overseeing the financial stability of insurance companies to ensure they can meet their obligations to policyholders.

However, the setting of insurance premium rates does not typically fall under the purview of the Insurance Commissioner. While the commissioner oversees the insurance industry and ensures compliance with regulations, the actual determination of premium rates is often dictated by market forces and the individual insurance companies, provided they adhere to state regulations. This distinction highlights the role of the Insurance Commissioner as a regulator rather than a rate-setter.