N.Y. Comp. Codes R. & Regs. tit. 11 § 243.3

Current through Register Vol. 46, No. 36, September 4, 2024

Section 243.3 - Standards for maintenance and reproduction of records

(a)

(1) Records and indices of records required to be maintained under this Part may be maintained in any durable medium.

(2) Where the original record was not a paper document, an insurer shall be able to produce information or data which accurately represents a record of communications between a person or entity and the insurer or accurately reflects a transaction or event.

(3) Upon transfer of an original record to a durable medium, the insurer may destroy the original record after assuring that all information contained in the original record, including signatures, handwritten notations, or pictures, is contained in the durable medium.

(4) If the insurer does not retain the original paper record, or if there was no original paper record, a duplicate or back-up system sufficient to permit reconstruction of the record shall be established at a separate location. The record may be retained in any form permitted by this Part.

(b) The superintendent may perform on-site visits to determine that the insurer is in compliance with this Part.

(c) An insurer shall establish and maintain a records retention plan. The plan shall include a description of the types of records being retained, the method of retention, and the safeguards established to prevent alteration of the records. Such plan shall be provided to the superintendent upon request. The insurer shall certify the accuracy of any records that are provided in accordance with its record retention plan.

(d) Nothing in this Part shall be construed as requiring the utilization of any particular method of record retention by any insurer.

N.Y. Comp. Codes R. & Regs. Tit. 11 § 243.3