Who is responsible for overseeing the surplus lines insurance market in Pennsylvania?

The Pennsylvania Insurance Department is the entity responsible for overseeing the surplus lines insurance market in Pennsylvania. This department's primary role includes regulating the insurance industry within the state, ensuring compliance with state laws, and protecting consumers. In the context of surplus lines insurance, which refers to coverage offered by non-admitted insurers, the Pennsylvania Insurance Department establishes guidelines and requirements that these insurers must follow to operate legally in the state.

The National Association of Insurance Commissioners serves as a collective organization for state insurance regulators but does not directly oversee specific state markets, such as the surplus lines market. Similarly, the Federal Insurance Office focuses on the broader insurance system at the national level and does not play a role in regulating state-specific insurance practices. Lastly, the Pennsylvania Department of Revenue handles tax-related matters and revenue collection for the state, but does not have jurisdiction over insurance market regulation.

Thus, the Pennsylvania Insurance Department's dedicated focus on insurance oversight makes it the correct answer regarding the regulation of the surplus lines insurance market in Pennsylvania.