Pennsylvania Annuity

The Pennsylvania Insurance Department is responsible for administering the laws of their state as they pertain to the regulation of the insurance industry in order to protect the insurance consumer. The mission of the Department of Banking and Insurance is: "By protecting and educating Pennsylvanians, we will safeguard consumer rights and ensure access to health and other vital insurance products."

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Pennsylvania Insurance Commissioner

Robert L. Pratter has been appointed by Governor Rendell to serve as Acting Insurance Commissioner for the Pennsylvania Insurance Department. Prior to his appointment he was the Executive Deputy General Counsel for Litigation with the Commonwealth’s Office of General Counsel since July 2008. Pratter received his B.A. as a cum laude graduate from Yale University as well as a J.D. from the University of Pennsylvania Law School. After graduation, Mr. Pratter joined the Philadelphia law firm of Duane, Morris & Heckscher and went on to serve as a partner in the firm for over 25 years. Throughout Mr. Pratter's legal career, he has specialized in regulatory, legislative, corporate and judicial proceedings affecting the insurance industry and has also led complex commercial litigation and has extensive experience in regulatory matters before various agencies of the Commonwealth of Pennsylvania.

Pennsylvania Annuity Resources

The Pennsylvania Insurance Department was established on April 4, 1873 under the Act of Assembly, P.L. 20, and was later reorganized on May 17, 1921 under the Insurance Department Act, P.L. 789. Within the department are divisions, also known as deputates, and other specialized offices. The department has the responsibility to "monitor the financial solvency of insurance companies; license insurance companies and producers/agents; review and approve insurance policy language and rates; Coordinate the rehabilitation and liquidation of insolvent insurance companies; and Administer health insurance programs for eligible adults and children. The departments automated hotline is: 1-877-881-6388 and additional information can also be obtained at http://www.insurance.pa.gov/.

 

Capital: Harrisburg
State Commissioner: Robert L. Pratter
Insurance Hotline: (717) 783-0442
Annuity Guarantee Limit: $100,000
Website: http://www.insurance.pa.gov/
Links: Life Insurance and Annuities