211 CMR 90.11 - Books and Records
Current through Register 1466, April 1, 2022
Every insurer and membership plan sponsor shall keep its books of account and other records current.
In addition, every insurer and membership plan sponsor shall maintain a file of all its advertising and marketing materials, with a notation attached to each describing the manner and extent of its distribution. This file will be reviewed periodically by the Division of Insurance in order to ensure that no materials are unfair or deceptive in violation of M.G.L. c. 176D.
Every insurer and membership plan sponsor shall collect and maintain data which will permit it to readily determining for any given period the total number of covered legal services provided, the total hours of attorney time involved, the total amount of attorneys' fees, the total amount of attorneys' fees paid by the insurer or membership plan sponsor, and the total deductible payments, coinsurance payments, and copayments made by subscribers. In addition, every insurer which writes legal services insurance under an insured service legal services plan and every membership plan sponsor shall maintain in summary form the results of the subscriber satisfaction forms. This information shall be furnished to the Commissioner upon his or her request.
All books and records must be kept in an easily accessible place at the main office of the insurer or membership plan sponsor for three years. After that time, they may be stored or microfilmed, but the original records or microfilm copies must remain available to the Commissioner for at least two more years.
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