Effective November 8, 2007, the Rhode Island Department of Business Regulation implemented Regulation 67, which provides new requirements for the retention and maintenance of records necessary for market conduct examinations.  Regulation 67 adopts the most recent National Association of Insurance Commissioners model regulation, requiring records and documents to be maintained for a period of four years (plus the current year) and to be readily accessible to the Commissioner in order to ascertain compliance with insurance laws and regulations.  Prior to the implementation of Regulation 67, Rhode Island did not have specific requirements for record retention and relied on the home state requirements for foreign insurers or minimum standard requirements for Rhode Island-domiciled companies.  For a copy of Regulation 67, click here.