Final answer:
The frequency of examinations by the Office of Insurance Regulation varies by state, with no single standard across all states. Insurers are commonly examined every three to five years to ensure solvency and adherence to state regulations, but the exact minimum can differ by state.
Step-by-step explanation:
The frequency at which domestic insurers must be examined by the Office of Insurance Regulation is determined by state regulations. In the U.S., the insurance industry is regulated at the state level, with overarching collaboration and information exchange through the National Association of Insurance Commissioners. State insurance regulators are responsible for balancing maintaining low insurance premiums with ensuring broad accessibility to insurance coverage. To prevent issues with insurability and ensure financial solvency, regular examinations of insurers are necessary; however, there is no single standard across all states for the examination frequency. It is common for insurers to be examined every three to five years, but the specific minimum could vary by state. Some states may require more frequent examinations depending on their individual regulations and the circumstances surrounding insurance operations within the state.