How often must the commissioner of insurance review the business transactions of insurers?

The correct answer is that the commissioner of insurance must review the business transactions of insurers every five years. This periodic review is essential for ensuring that insurers are operating in compliance with state regulations and maintaining financial solvency, which ultimately protects policyholders and promotes fairness within the insurance market.

The five-year review cycle allows for a comprehensive evaluation of an insurer's business practices, financial health, and adherence to legal requirements. This timeframe strikes a balance between adequate oversight and allowing insurers sufficient time to implement recommended changes and maintain stability in their operations. Regular reviews contribute to the integrity of the insurance industry, facilitating continuous improvements and accountability among insurers.