How often must market conduct examinations of insurers be conducted by the Colorado insurance commissioner?

The Colorado insurance commissioner is required to conduct market conduct examinations of insurers at least every five years. This frequency ensures that insurers are complying with state laws and regulations regarding fair treatment of policyholders and maintaining proper market practices. Conducting these examinations at a regular interval of five years allows for timely oversight and helps protect consumers from unfair practices while also providing a mechanism for identifying and addressing systemic issues within the insurance market. This regulatory framework is essential for maintaining the integrity of the insurance industry, ensuring companies act responsibly, and safeguarding consumer interests in Colorado.