Every insurer transacting credit life or credit health insurance in Maryland shall conduct a review of each of its creditor accounts with respect to the credit life and credit health insurance business of the creditor to assure compliance with the insurance laws and regulations of Maryland. Unless a satisfactory review has been made within 2 years before the effective date of these regulations, the first review shall be made not later than 15 months after the effective date of these regulations or of the date of the initial credit life or credit health insurance transaction between the creditor and the insurer, whichever is later. After that, a review shall be made not later than 36 months following the last preceding review. The review shall include but need not be limited to a determination that: The proper premium charges to debtors are made by the creditor and remitted in a timely manner to the insurer; The proper refunds are being accurately calculated and promptly made by the creditor; All claims are being filed promptly and properly handled; Amounts of insurance payable on death in excess of the amounts necessary to extinguish the indebtedness are properly calculated and reported to the insurer in proofs of loss; The creditor is promptly and fairly processing complaints concerning its credit insurance operations and is maintaining proper procedures for and records of the complaints processed. Insurers shall retain copies of the reviews in their home offices for a period of at least 5 years.