Who Governs Life Insurance Companies? 
Insurance companies are domiciled in a state . The particular state insurance commissioner supervises the activities of the companies domiciled in it . A company operates in one to fifty states . In order to operate in a state the insurance company must make application to be admitted . The state insurance commissioner for that state supervises the operations of the company in that state . These are the governmental regulators . Each company is organized and generally has a board of directors that govern the operations of the company . 