Final answer:
The Office of Insurance Regulation may examine the affairs and transactions of an insurer as frequently as needed, typically at the state level, to ensure compliance with regulations and protect policyholders' interests.
Step-by-step explanation:
The Office of Insurance Regulation may examine the affairs and transactions of an insurer as frequently as needed to ensure compliance with regulations and to protect the interests of policyholders.
In the U.S., insurance industry regulation is primarily done at the state level. Each state has its own insurance department or Office of Insurance Regulation that oversees the activities of insurers operating within its jurisdiction. The frequency of examinations can vary from state to state, but typically, state insurance regulators have the authority to conduct regular examinations of insurers.
For example, in Florida, the Office of Insurance Regulation conducts examinations of insurers on a regular basis to assess their financial condition, compliance with laws and regulations, and to ensure policyholder protection. These examinations may be conducted annually or on a specified schedule determined by the regulatory authority.