In addition to the other duties required of the Texas Department of Insurance, the department shall:
(1) regulate the business of insurance in this state;
(2) administer the workers’ compensation system of this state as provided by Title 5, Labor Code;
(3) ensure that this code and other laws regarding insurance and insurance companies are executed;
(4) protect and ensure the fair treatment of consumers; and
(5) ensure fair competition in the insurance industry in order to foster a competitive market.