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COB 8A.5 Record keeping

COB 8A.5.1R

An insurer must make and retain, for the duration of the claim and for a minimum of six years after the insurer's obligations to the policyholder under the long-term care insurance contract have ceased, the following information in relation to each claim made against a policy issued by it or handled by it:

  1. (1)

    details of the claim;

  2. (2)

    a record of each communication with the policyholder including the date on which it was made; and

  3. (3)

    the date the claim was settled or rejected and details of settlement or rejection including information relevant to the basis for the settlement or rejection.