Which of the following is a common role of the Commissioner of Insurance?

The role of the Commissioner of Insurance primarily involves overseeing and regulating the insurance industry to ensure its stability and integrity. Monitoring the financial health of insurance companies is a critical function of this position because it helps to protect consumers and maintain confidence in the insurance market. This oversight includes reviewing financial statements, ensuring companies have adequate reserves to pay claims, and examining any potential risks that could threaten the company's ability to remain solvent.

By maintaining this financial oversight, the Commissioner can intervene when necessary to prevent insurance companies from failing, thereby safeguarding the interests of policyholders and the general public. This focus on financial health also aligns with regulatory objectives to ensure that insurance companies operate with transparency and accountability.

The other roles mentioned, such as setting premium rates for all insurance products or directly selling insurance to consumers, fall outside the typical responsibilities of a Commissioner. While regulators may influence premium rates through oversight and approval processes, they do not set those rates themselves. Creating new insurance policies is usually within the purview of insurance companies rather than a regulatory body. Directly selling insurance to consumers also lies outside the responsibilities of the Commissioner, as this role focuses on regulation rather than engaging in the business of selling insurance.