New York Consolidated Laws, Insurance Law - ISC § 7007. Examinations

The superintendent may make an examination into the affairs of any captive insurance company licensed to do a captive insurance business in this state whenever it is deemed necessary for the protection of the interests of the people of this state but the superintendent shall conduct at least one examination every five years.  Such examinations shall be conducted in accordance with the provisions of sections three hundred ten, three hundred eleven, three hundred twelve of this chapter and subsection (f) of section two hundred six of the financial services law.