760 Ind. Admin. Code 1-72-6

Current through December 25, 2024

Section 760 IAC 1-72-6 - Record keeping

Authority: IC 27-4-9-4

Affected: IC 27-1-15.6-12; IC 27-4-1-4; IC 27-4-9

Sec. 6.

(a) Insurers, managing general agents, independent agencies, and insurance producers shall:

(1) maintain; or

(2) be able to make available to the commissioner; records of the information collected from the consumer, disclosures made to the consumer, including summaries of oral disclosures, and other information used in making the recommendations that were the basis for insurance transactions for five (5) years after the insurance transaction is completed by the insurer. An insurer is permitted but is not required to maintain documentation on behalf of a producer.

(b) Records required to be maintained by this rule are maintained:

(1) in:

(A) paper;

(B) photographic;

(C) microprocess;

(D) magnetic;

(E) mechanical; or

(F) electronic;

media; or

(2) by a process that accurately reproduces the actual document.

760 IAC 1-72-6

Department of Insurance; 760 IAC 1-72-6; filed Feb 16, 2006, 8:25 a.m.: 29 IR 2194, eff Jul 1, 2006; filed Jan 27, 2009, 9:51 a.m.: 20090225-IR-760080058FRA

Readopted filed 11/20/2015, 9:25 a.m.: 20151216-IR-760150341RFA

Readopted filed 11/15/2021, 8:32 a.m.: 20211215-IR-760210419RFA

Filed 2/8/2024, 12:47 p.m.: 20240306-IR-760230518FRA, eff 7/1/2024