DE HB48

Extends the record retention period for licensed insurance producers, adjusters, and appraisers from 3 years to 5 years

Records must be maintained at the licensee's principal place of business and remain available for inspection by the Insurance Commissioner

Insurance producers must keep records showing insurer names, insured names, policy numbers, expiration dates, and premiums for each policy placed or countersigned

Adjusters must retain records of each claim settled, including insurer/insured names, policy numbers, and settlement amounts

Appraisers must keep records of each appraisal submitted, including a copy of the written appraisal and the names of the insured and person for whom the appraisal was completed