Full text of legislative history behind the Insurers Rehabilitation and Liquidation Model Act.
Minnesota Insurers Rehabilitation and Liquidation Model Act Legislative History
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US-AF02
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The director shall so examine each domestic insurer at least once every five years. Examination of an alien insurer shall be limited to its insurance transactions in the United States.
(b) The commissioner may conduct an examination under this article of any company as often as the commissioner in his or her discretion deems appropriate but shall, at a minimum, conduct an examination of every insurer admitted in this state not less frequently than once every five years.
The commissioner shall examine the affairs and conditions of every insurer licensed in this state not less frequently than once every five years.
30 Business Days ? An insurer must let you know if your claim is being accepted or denied within 30 business days after receipt of notification of a claim.
How often must insurers be examined, and who is responsible for conducting such examinations? The Commissioner must examine all authorized insurers at least once every 5 years.