Massachusetts Annuity Information
Massachusetts Division of Insurance
The Division of Insurance (DOI) administers the laws of the Commonwealth as they pertain to the protection of the insurance consumer through the regulation of the insurance industry. The DOI monitors financial solvency, licenses insurance companies and producers, reviews and approves rates and forms, and coordinates the takeover and liquidation of insolvent insurance companies and the rehabilitation of financially troubled companies. We also investigate and enforce state laws and regulations pertaining to insurance and responds to consumer inquiries and complaints.
Commissioner Daniel R. Judson was appointed Commissioner of Insurance in April of 2015 overseeing the regulation of the insurance industry in Massachusetts. The Division of Insurance is responsible for the licensing and financial supervision of 89 domestic insurance companies and 1,200 licensed insurance carriers conducting business in Massachusetts. The Division also licenses over 90,000 individuals in the business of insurance. Additionally, the Division oversees the technical analysis and review of insurance products and plans in Massachusetts as well as consumer protection and education efforts to ensure a healthy insurance marketplace.
Commissioner Judson is an attorney with over 25 years of experience in insurance in both the public and private sectors. Commissioner Judson previously served the Division of Insurance for over 15 years as an attorney and eventually deputy commissioner and general counsel.
The Division of Insurance website contains a number of resources for residents of the state of Massachusetts looking for information about the purchase and suitability requirements for insurance and annuity products. To learn more, visit the website at http://www.mass.gov/. The site outlines the differences among various products and offers consumers guidelines as to how to determine which products are most appropriate.
|State Commissioner:||Daniel R. Judson|
|Insurance Hotline:||(617) 521-7794|
|Annuity Guarantee Limit:||$100,000|
|Links:||Buying Life and Annuities|
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