For how long must an agent keep client records?

An agent is required to keep client records for a minimum of 5 years, which aligns with industry standards and regulatory guidelines. This time frame ensures that all pertinent information regarding the client's insurance policies, transactions, and communications is available for review if needed, particularly in the event of a claim or audit.

This duration is especially important because it allows sufficient time for any disputes or inquiries to be addressed adequately. Clients can rely on their agent to have detailed records that can support their claims or provide necessary information over the lifespan of their policies, which can extend beyond 5 years in many cases.

Maintaining records for too short a period, such as 1 year or 18 months, may not be sufficient for resolving disputes or ensuring compliance with legal and regulatory requirements. It's also beneficial to keep these records longer than the minimum in case a situation arises that requires historical information about a client’s policy or the agent's recommendations.