3901-4-03. Retention of long term care insurance education records

(A) Purpose

The purpose of this rule is to establish a record retention requirement for insurers that must maintain records of their agents' education and training concerning long term care insurance under section 3923.443 of the Revised Code.

(B) Authority

This rule is promulgated pursuant to the authority stated in sections 3901.041, 3923.44, and 3923.47 of the Revised Code.

(C) Pursuant to section 3923.443 of the Revised Code, an insurer is required to obtain and maintain records that the initial training and continuing education of its agents concerning long term care insurance and its distribution as described in that section has taken place. The superintendent may audit an insurer's records on this subject annually to verify this is being done. The insurer shall maintain these records demonstrating education and training for not less than four years from the date of the particular education or training.

Five Year Review (FYR) Dates: 8/30/2018 and 08/30/2023
Promulgated Under: 119.03
Statutory Authority: 3901.041, 3923.44, 3923.47
Rule Amplifies: 3923.443
Prior Effective Dates: 12/03/2009

Prior History: (R.C. 119.032 review dates: 01/08/2014 and 08/31/2018
Promulgated Under: 119.03
Statutory Authority: 3901.041, 3923.44, 3923.47
Rule Amplifies: 3923.443
Prior Effective Dates: 12/03/2009)