; (ii) the insurer, at the time of selection and for each of the immediately preceding 7 plan years— (I) operates under a certificate of authority from the insurance commissioner of its domiciliary State which has not been revoked or suspended; (II) has filed audited financial statements in accordance with the laws of its domiciliary State under applicable statutory accounting principles; (III) maintains (and has maintained) reserves which satisfies all the statutory requirements of all States where the insurer does business; and (IV) is not operating under an order of supervision, rehabilitation, or liquidation; (iii) the insurer undergoes, at least every 5 years, a financial examination (within the meaning of the law of its domiciliary State) by the insurance commissioner of the domiciliary State (or representative, designee, or other party approved by such commissioner); and (iv) the insurer will notify the fiduciary of any change in circumstances occurring after the provision of the representations in clauses (i), (ii), and (iii) which would preclude the insurer from making such representations at the time of issuance of the guaranteed retirement income contract