Examination of Records

The commissioner may examine the records of insurers, producers, and other licensees. On demand, an examinee shall make available to the commissioner for examination the examinee’s books, accounts, records, files, documents, or property.

The commissioner must examine insurers, both domestic and nondomestic, no less frequently than once every five years.

The commissioner need not give advance notice of an examination to an examinee.

An insurer being examined shall reimburse the department for the reasonable costs of examinations, such as travel costs, living expenses, professional fees, and administrative costs.