Insurance Regulation
How long must an insurer keep the policy record that Regulation 152 requires for examination purposes?
Answer and explanation
Answer: D. Regulation 152 sets six calendar years from the date the policy is no longer in force, or until after the filing of the report on examination covering it, whichever is longer. Three and ten year periods and a maturity-based measure are not the rule's standard.Source: New York Reg. 152, 11 NYCRR 243.2 — 11 NYCRR 243.2
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