What is the primary purpose of protecting persons seeking insurance in Pennsylvania?

The primary purpose of protecting persons seeking insurance in Pennsylvania is to uphold the revenues of the Commonwealth. This focus on public protection means that the regulations in place aim to create a stable insurance market that benefits consumers and ensures they are treated fairly. By safeguarding the financial integrity of insurance providers and facilitating a framework for regulation, the state helps ensure that those seeking insurance can access reliable coverage.

While access to non-admitted insurers is important for providing options in the market, it is not the main goal of the protection efforts. Likewise, offering a wide array of insurance options or providing financial support for insurance companies may be advantageous for consumers and the industry, but these actions ultimately contribute to the overarching objective of maintaining a robust revenue stream for the Commonwealth. This revenue supports the regulation and oversight necessary to protect consumers and maintain market stability.