§431:10C-215  Inspection and audit. 
(a)  In addition to the right and duty of examination under article 2, the
commissioner shall have the right and the duty of visitation, inspection and
audit of all business records, including internal memoranda, audits and
correspondence related in any way to the insurer's motor vehicle insurance
business in this State.



(b)  The commissioner shall, in the
commissioner's discretion, cause an audit to be made of all or any segment of
the motor vehicle insurance books and business records of any insurer by the
staff of the division or by an independent contract examiner.  A copy of every
audit, internal or external, performed by any insurer of any aspect of its
motor vehicle books and business records shall be submitted immediately upon
completion to the commissioner.



(c)  The commissioner shall assess and collect
from each insurer, self-insurer, and from every applicant for a certificate of
self-insurance or a license to transact a motor vehicle insurance and optional
additional insurance business in this State, such portion of the full cost of
every audit, inspection, examination, visitation, and other services related to
motor vehicle insurance required by this or any other article, or performed by
the commissioner in the commissioner's discretion under this article or this
code, as the commissioner deems equitable in the rendering of the service. 
Assessments collected shall be paid into the compliance resolution fund.



(d)  (1)  Each insurer licensed to transact motor vehicle
insurance or optional additional insurance business in this State shall provide
the commissioner with periodic reports on every aspect of the motor vehicle
insurance and the optional additional insurance business the insurer transacts
in the State, including, but not limited to, reports on the investment,
reserve, reinsurance, loss and profit experience, ratemaking and schedules,
claims received and paid; and



(2)  Each insurer shall, not less frequently than
quarterly, report to the commissioner the details of each claim received, claim
paid, application for and sale of a motor vehicle insurance policy, each
termination and renewal refusal notice posted, and each cancellation and
refusal to renew effected on both motor vehicle insurance and optional additional
insurance policy transactions.



(e)  Any insurer failing to report information
in the manner and within the time required by the commissioner, or failing
fully to cooperate with the commissioner and the commissioner's staff in the
fulfillment of their duties under this article and this code shall be subject
to the penalty provided in section 431:14-117. [L 1987, c 347, pt of §2; am L
1997, c 251, §37; am L 1998, c 275, §15; am L 2003, c 212, §84]