How frequently must a domestic insurer's books and records be examined by the commissioner in Connecticut?

A domestic insurer in Connecticut is required to have its books and records examined by the commissioner every five years. This periodic examination helps ensure that the insurer is operating in compliance with state regulations and maintaining appropriate financial practices. The examination process is vital for maintaining the integrity of the insurance industry, protecting policyholders, and ensuring that companies meet the required reserve levels and solvency standards.

The other timeframes for examinations, such as annually, biennially, or every three years, do not align with the established regulations. This five-year cycle provides a balance between oversight and operational efficiency for insurers, allowing them sufficient time to implement any necessary changes following an examination.