The legal system which is laid to govern the Insurance companies is essential for the companies themselves as well as the beneficiaries particularly documents holders. This significance appears due to the capability of such system in managing and running these companies in a way that leads to the availability of gaining profits and avoiding the potential wastages. Besides, such system preserves the flexibility of the companies and benefit the documents holders by making the legal and financial center confidential for them which may lead to the a comfort and trustful dealing with these companies. Thus, the purpose of this study is to examine the role of governance companies in protecting the consumers and how such role can affect the way that these companies are run and managed in terms of the supervising activities practiced by such companies and their commitment in applying the rules of the governance. Based on the study, the researcher has concluded that the purpose of the governance in the insurance companies is to support the confidence between the administration of the corporation including its board of directors and stockholders and the documents holders. Moreover, ensuring the fully commitment in achieving the duties is another purpose that the governance targets to. The researcher suggests that there must be fully detailed legal texts that suit with the confidential nature of the insurance companies to help in achieving their responsibilities. Another suggestion is to hire an official commitment with a specified description of his major.