Under New York Insurance Law § 309, how often must the Superintendent examine the affairs of every domestic insurer authorized to do business in New York?

Why this is the answer

Section 309 sets the floor: every domestic insurer must be examined at least once every five years, with the Superintendent retaining discretion to examine more frequently when warranted (e.g., adverse RBC trend, market-conduct complaints, change of control). Foreign and alien insurers are typically accepted on the basis of their domiciliary-state exam under NAIC accreditation principles, though DFS may conduct its own exam when needed. The exam covers financial condition, compliance, claims handling, and management. Reports are public after the insurer's response period. RBC concerns trigger additional regulatory action under §§ 1322-1324 but do not displace the periodic § 309 cycle.