14 Va. Admin. Code § 5-400-30

Current through Register Vol. 40, No. 22, June 17, 2024

Section 14VAC5-400-30 - File and record documentation

A. An insurer's claim files shall be subject to examination by the commission.

B. An insurer shall maintain claim data so that it is accessible and retrievable for examination. Claim data includes the claim number, line of coverage, date of loss and date received, as well as date of payment of the claim, date of denial, or date closed without payment.

C. Detailed documentation shall be maintained for each claim file in order to permit reconstruction of the insurer's activities relating to each claim.

D. Each document within the claim file shall be noted as to date received, date processed, or date mailed.

E. All data and documentation shall be maintained for all open and closed files for the current year and, at a minimum, the three preceding calendar years.

14 Va. Admin. Code § 5-400-30

Derived from Regulation 12, Case No. 19961, §4, eff. September 15, 1978; Amended, Virginia Register Volume 33, Issue 22, eff. 1/1/2018.

Statutory Authority: §§ 12.1-13, 38.2-223, and 38.2-510 of the Code of Virginia.