For how many calendar years must insurers in New York maintain a complaint record after resolving all elements of the complaint?

Insurers in New York are required to maintain a complaint record for six calendar years after resolving all elements of the complaint. This requirement ensures that there is accountability and transparency in the insurance industry, allowing for ongoing oversight of insurers’ handling of complaints. Keeping records for this duration also supports regulatory bodies in monitoring trends and addressing issues that may arise in consumer complaints. This practice helps protect consumers by ensuring insurers are held responsible for the service they provide and the complaints that may arise from it, allowing for a fair evaluation of their practices over time.