In 2001, there were 2.8 million ordinary life insurance policies in force with a total value of $184.8 billion; total value for all categories of life insurance (ordinary, group, industrial, and credit) was $311.4 billion. Death benefits paid that year totaled $911.8 million. As of 2000, there were 175 property and casualty and 28 life and health insurance companies incorporated or organized in the state. In 2001, property and casualty insurers wrote over $6.2 billion in premiums. That year, there were 12,714 flood insurance policies in force in the state, with a total value of $1.3 million.
The Office of the Commissioner of Insurance licenses insurance agents, enforces state and federal regulations, responds to consumer complaints, and develops consumer education programs and literature. The office also operates the State Life Insurance Fund, which sells basic life insurance (maximum $10,000) to state residents; and the Local Government Property Insurance Fund, which insures properties of local government units on an optional basis.