Question

In addition to examinations that are specifically authorized by the Insurance Code, the Superintendent may examine each domestic life insurer as often as it is deemed necessary for the protection of the consumers. The Code requires examination of domestic life insurers every __________.

Answer 1

Answer:

5 years.

Explanation:

The Superintendent is entitled to examine the transactions, accounts, records, and any other type of information of any authorized domestic life insurer as frequently as it is deemed necessary. In addition, domestic life insurers must be carefully examined at least once every 5 years. This applies to authorized domestic life insurers which conduct business in the State of New York.