Section 760IAC1-72-6. Record keeping

   (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 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 shall not be required to maintain documentation on behalf of an insurance producer.

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

(1) in:

(A) paper;

(B) photographic;

(C) microprocess;

(D) magnetic;

(E) mechanical; or

(F) electronic;

media; or

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

(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 Nov 20, 2015, 9:25 a.m.: 20151216-IR-760150341RFA)