How frequently must the Commissioner conduct examinations or investigations?

The correct answer highlights that the Commissioner is required to conduct examinations or investigations every 5 years. This periodic review is a crucial part of maintaining oversight of insurance companies, ensuring that they operate in compliance with state laws and regulations. The 5-year timeframe allows the Commissioner to assess the financial condition, business practices, and compliance measures of insurers effectively while also accommodating any changes in the industry.

Regular examinations help protect policyholders by identifying potential solvency issues or regulatory violations, thereby ensuring that insurance companies are managing their assets responsibly and meeting their obligations to policyholders. The established period allows for a systematic approach to regulatory oversight, creating a balance between ensuring compliance and allowing companies sufficient time to operate before another evaluation occurs.

The other timeframes provided in the options do not align with the requirements set forth in regulatory guidelines, which specify a 5-year cycle as the standard for examinations and investigations.