Ohio Insurance Laws and Regulations Practice Exam

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How often must every admitted insurance company in Ohio have their financial affairs examined by the superintendent?

  1. Every 2 years

  2. Every 3 years

  3. Every 5 years

  4. Every 10 years

The correct answer is: Every 3 years

Insurance companies in Ohio must have their financial affairs examined by the superintendent every 3 years. This is to ensure that the company is following proper financial practices and to protect policyholders. Options A, C, and D are incorrect because they either have too short or too long of an interval for examinations, which could put policyholders at risk or be too burdensome for insurance companies.

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