What is the minimum amount of time that an insurer must keep records of a policyholder's claims history?

Insurers are required to maintain records of a policyholder's claims history for a minimum of three years. This requirement ensures that there is an adequate record-keeping system in place, which helps in the evaluation of claims, tracking of any patterns or trends, and ensuring compliance with regulatory standards. Keeping claims history for at least three years allows both the insurer and the policyholder to address any disputes that may arise regarding claims and ensures that the necessary information can be accessed for timely processing and reviews. This requirement is part of broader regulations aiming to protect policyholders' rights and facilitate fair treatment in insurance practices.