Insurers are required to be examined at least once every how many years?

In Tennessee, insurers are required to undergo an examination at least once every five years. This examination is part of the regulatory oversight conducted by the state to ensure that the insurers are financially stable, compliant with the laws and regulations, and able to meet their obligations to policyholders.

The five-year timeframe helps regulators maintain a balance between thorough oversight and the practicalities of the insurance market, allowing insurers sufficient time to implement any necessary changes or improvements identified during the examination process.

The other options suggest a more frequent examination schedule, which may not be practical or necessary for most insurers, considering the resources required for such inspections and the fact that inspections are still conducted periodically as needed. Therefore, the five-year requirement strikes an appropriate balance between ensuring compliance and allowing insurers to operate effectively.