Who is responsible for paying for the audit conducted every five years?

The insurance company is responsible for paying for the audit conducted every five years. This is a standard practice in the insurance industry to ensure compliance with regulations and the proper functioning of the company's financial practices. By requiring the insurance company to cover the cost of the audit, it upholds accountability, ensuring that the company maintains appropriate financial standards and operates within regulatory guidelines.

The other options involve roles that do not typically bear the financial responsibility for audits. The Commissioner of Insurance oversees the regulation of insurance companies but does not pay for audits. The state government may indirectly benefit from the results of the audits but does not usually fund them. Licensed adjusters are involved in specific functions regarding claims and insurance processes but do not handle audits or their funding.