(1) All insurers shall have an annual audit by an independent certified public accountant and shall file an audited financial report with the commissioner on or before June 1 for the year ended December 31 immediately preceding. Upon 90 days advance notice, for good cause, the commissioner may require an insurer to file an audited financial report earlier than June 1.

(2) Extensions of the June 1 filing date may be granted by the commissioner for 30-day periods upon showing by the insurer and its independent certified public accountant of good cause for an extension. Request for extension must by submitted in writing not less than 10 days prior to the due date and must be in sufficient detail to permit the commissioner to make an informed decision with respect to the requested extension.