How often is the director required to examine every insurer licensed in Missouri?

In Missouri, the director is required to examine every insurer licensed in the state every five years. This examination process is part of the regulatory oversight to ensure that insurance companies maintain solvency, comply with legal and financial standards, and operate in a manner that protects policyholders. Conducting examinations at five-year intervals strikes a balance between monitoring the insurer's financial health and allowing adequate time for companies to address any identified issues without overburdening them with more frequent reviews.

This period allows for a thorough investigation into the insurer's operations, financial condition, and compliance with various statutory requirements, which is critical in maintaining the integrity of the insurance market and protecting consumers. Regular examinations help to foster public trust and uphold the standards of the insurance industry within Missouri.