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Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims information?

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Is there a specific statute or regulation that deals with how long an insurance company or agency must retain customer policy and claims information?

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Typical Question: We are in the process of going paperless. We have many old files that are for people that are no longer our customers. Our question is how long do we have to keep the old files, and if they are no longer insured through us do we have to keep the signed applications longer than the rest of the files.

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