Insurance is Montana's 3rd largest industry.

The Montana Insurance Department is charged by statute with regulating the business of insurance to guarantee it is conducted in accordance with the law and in such a way as to protect policyholders and the general public. We work hard to ensure companies operate in a fiscally responsible manner. We also place a priority on consumer protection while fostering a strong, competitive marketplace that provides consumers with choices and access to high-quality, legitimate insurance products.

Duties of the Department bureaus include:

• Company licensing and examinations: License and
  maintain financial information for approximately 1500 insurance entities;
• Producer Licensing: License and process continuing education filings for 24,000 individual and agency producer licensees;
• Rates and Forms: Review and approve rates and policy forms for licensed carriers;
• Policyholder Services: Respond to more than 35,000 yearly phone and written consumer inquiries.

Insurance is the state’s 3rd largest industry. In Montana, insurance companies now do more than $2 billion worth of business each year. The insurance department collects more than $54 million annually from fees and premiums taxes paid by companies. These monies are deposited in the state general fund.