HRS §431:10D-625
Keeping records of insurance recommendations
Insurance companies, managing general agents, independent agencies, and producers must keep records of consumer information, disclosures, and recommendation details for five years after the insurance transaction is completed. The insurer can keep these records for the producer.
The statute, as written — Recordkeeping
Insurers, managing general agents, independent agencies, and producers shall maintain or make available to the commissioner records of the information collected from the consumer; disclosures made to the consumer, including summaries of oral disclosures; and other information used in making the recommendations that were the basis for insurance transactions for five years after the insurance transaction has been completed by the insurer. An insurer may maintain documentation on behalf of a producer.
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