§ 309. Examinations of insurers; when authorized or required. (a) The
superintendent may make an examination into the affairs of any insurance
corporation or other insurer doing or authorized to do any insurance
business in this state or, of any pension fund, retirement system or
other organization which is required by law to make reports to, or is
subject to examination by, the department as often as he deems it
expedient for the protection of the interests of the people of this
state, in addition to examinations authorized by other provisions of
this chapter.

(b) The superintendent shall make an examination into the affairs:

(1) of every authorized domestic fraternal benefit society and every
domestic property/casualty insurance company, at least once in every
three years; except that the superintendent may extend the three year
interval to not more than five years with respect to a property/casualty
insurance company, upon determining that the three year requirement is
not necessary to safeguard the interests of the public or policyholders;

(2) of every domestic life insurance company, at least once in every
five years; and

(3) of every other authorized domestic insurer and every rate service
organization which makes or files rates, whether or not advisory, at
least once in every five years.

(c) As part of an examination, the superintendent shall review
determinations of coverage for substance use disorder treatment and
shall ensure that such determinations are issued in compliance with
sections three thousand two hundred sixteen, three thousand two hundred
twenty-one, four thousand three hundred three, and title one of article
forty-nine of this chapter.