The division shall, by regulation hereinafter promulgated, provide for the review, at periodic intervals, which shall as far as possible be coincidental with payment periods, of the performance of companies under their respective contracts with the commissioner. Such reviews shall, among other things, be for the purposes of ascertaining the quality and quantity of the company activities performed, the conformity thereof to contract provisions and the financial integrity and efficiency of the company. Contracts may be terminated by the commissioner upon a finding of substantial non-performance or other breach by the company, and contracts shall be modified and renegotiated, from time to time, in light of the actual performance, new or changed conditions, or otherwise.