Yes, according to Maryland law, Section 2-206, when
advisable to determine compliance with this article, the Commissioner may
examine the accounts, records, documents, and transactions that relate to the
insurance affairs or proposed insurance affairs of:
(1) an agent, broker, surplus lines broker, general agent, adjuster, public adjuster, or adviser;
(2) a person with the exclusive or dominant right under a contract to manage or control an insurer;
(3) a person that, for the purpose of controlling the management of a domestic insurer, holds the shares of voting stock or policyholder proxies of the domestic insurer as voting trustee or otherwise; or
(4) a person engaged in , proposing to engage in, or helping in the promotion or formation of:
(i) a domestic insurer or insurance holding corporation; or
(ii)
a corporation to finance a domestic insurer or the production of its
business.
Section 2-207 goes on to say that the examination, if other than an insurer,
(2) (i) shall be conducted at the place of business of the person; or
(2) (ii) any place where records of the person are kept and that
(b) Each person that is examined and its officers, employees, agents, and representatives shall:
(1) Produce and make freely available to the Commissioner or an examiner the accounts, records, documents, files, information, assets, and matters that are in the possession or control of the person and relate to the subject of the examinations; and
(2) otherwise help the examination to the extent reasonably possible.
(c)
At the expense of the person being examined, the Commissioner may retain
an actuary, accountant or other expert, who is ot otherwise a part of the staff
of the Administration (MIA), if reasonably necessary to conduct an examination
under this article.
Who pays for the examination?
Section 2-208 says you do.
The expense incurred in an examination made under 2-205 of this subtitle, 2-206 of this subtitle for surplus lines brokers and insurance holding corporations or 23-207 of this article for premium finance companies shall be paid by the person examined in the following manner:
(1) the person examined shall pay to the Commissioner the travel expenses, a living expense allowance, and a per diem as compensation for examiners, actuaries and typists:
(i) to the extent incurred for the examination; and
(ii) at reasonable rates set by the Commissioner;
(2) the Commissioner may present a detailed account of expenses incurred ot the person examined periodically during the examination or at the end of the examination, as the Commissioner considers proper; and
(3) a person may not pay and an examiner may not accept any compensation for an examination in addition to the compensation under paragraph (1) of this section.