§ 507.2

507.2 Authority, scope, and scheduling of examinations. 1. The commissioner or any of the commissioner’s examiners may conduct an examination under this chapter of any company as often as the commissioner deemsappropriate, but at a minimum, shall conduct an examination of any domestic insurerlicensed in this state no less than once every five years. In scheduling and determining thenature, scope, and frequency of the examinations, the commissioner shall consider suchmatters as the results of financial statement analyses and ratios, changes in managementor ownership, actuarial opinions, reports of independent certified public accountants, andother criteria as set forth in the examiners’ handbook adopted by the national association ofinsurance commissioners and in effect when the commissioner exercises discretion underthis section. 2. For purposes of completing an examination of any company pursuant to this chapter, the commissioner may examine or investigate any person, or the business of any person,insofar as the examination or investigation is, in the sole discretion of the commissioner,necessary or material to the examination of the company. 3.

tigate any person, or the business of any person,insofar as the examination or investigation is, in the sole discretion of the commissioner,necessary or material to the examination of the company. 3. In lieu of an examination under this chapter of any foreign or alien insurer licensed in this state, the commissioner may accept an examination report on the company as preparedby the regulatory authority for insurance for the company’s state of domicile or port-of-entrystate. [C97, §1753; S13, §1821-a, -h; C24, 27, 31, 35, 39, §8626, 8642, 9009, 9061; C46, §507.2, 507.18, 515.130, 518.36; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §507.2] 92 Acts, ch 1117, §2; 95 Acts, ch 185, §4 Sat Dec 23 00:38:59 2023 Iowa Code 2024, Section 507.2 (17, 1)