Which entity oversees the regulation of insurance licensing in individual states under Public Law 15?

The correct answer is that the regulation of insurance licensing in individual states is overseen by the State Insurance Departments. Each state has its own insurance department responsible for implementing and enforcing the laws and regulations governing the insurance industry, including the licensing of insurance agents and brokers. This decentralized regulation allows states to address the specific needs and concerns of their residents, ensuring that insurance practices are tailored to local markets and consumer protection standards.

Public Law 15 recognizes the role of states in regulating insurance, granting them the authority to manage these licensing processes independently. This structure contrasts with a federal oversight approach, which is less common in the insurance sector, where state regulation remains predominant.

Other entities listed do not have the jurisdiction or responsibility over insurance licensing. For instance, the Federal Government primarily plays a role in overseeing national standards and practices, but does not directly manage state licensing. The National Insurance Board does not exist as a regulatory body for licensing, and the Insurance Services Office mainly provides statistical, actuarial, and underwriting support rather than regulatory oversight.