North Carolina Adjuster Practice Exam

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According to North Carolina law, how long must insurers keep Complaint Records?

3 years
5 years
7 years
10 years

The correct answer is: 5 years

Insurers in North Carolina are required to maintain Complaint Records for a period of five years. This mandate is part of the regulatory framework established to ensure that insurance companies are held accountable for their interactions with policyholders and can provide transparency in the handling of complaints. Keeping these records for a minimum of five years allows for thorough review and assessment of the insurer's handling of issues, which is crucial for consumer protection. This retention period also aligns with various regulatory requirements aimed at promoting ethical practices within the insurance industry in North Carolina. The other durations mentioned do not align with the specific legal requirements set forth by the state, underscoring the importance of understanding and adhering to the correct timeline for record keeping in compliance with state law.