Company Profile
Office of the Commissioner of Insurance
Company Overview
The Office of the Commissioner of Insurance (OCI) was created by the legislature in 1870. The original intent of OCI has not changed drastically over the past 150 years. In 1870, OCI was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to protect and educate Wisconsin consumers by maintaining and promoting a strong insurance industry.
OCI works to protect insurance consumers and ensure a competitive insurance environment. OCI's major functions include:
Reviewing insurance policies that are sold in Wisconsin to make sure they meet the requirements set forth in Wisconsin law
Conducting examinations of domestic and foreign insurers to ensure compliance with Wisconsin laws and rules
Monitoring the financial solvency of licensed companies to make sure that consumers have the insurance coverage they expect when they need it
Issuing licenses to the various parties involved in selling and marketing insurance products
Assisting insurance consumers with their insurance problems
Researching special insurance issues to understand and assess their impact on Wisconsin
Providing technical assistance on legislation and promulgating administrative rules to interpret insurance laws
Creating and distributing public information and consumer education pieces to educate people about insurance
Operating a State Life Insurance Fund and an Injured Patients and Families Compensation Fund insuring health care providers for medical malpractice
Company History
OCI was created by the legislature in 1870 and continues its work today making sure that the insurance industry meets the insurance needs of Wisconsin citizens.
Benefits
The State of Wisconsin has an amazing benefit package. Please see the link for more specifics regarding benefits:
https://dpm.wi.gov/Pages/Employees/BnGeneral.aspx