The main legislation relating to insurance claims is
Limitation Act 1980
Latent Damage Act 1986
Employers Liability (Compulsory Insurance) Regulations 1998
Workman's Compensation Act
Hence the reason for common business practice or good practice.
Insurance concerning children is usually kept until the child reached 25 in
case on reaching adulthood the person makes their own claim.
Employers Liability Insurance states 40 years.
As a rule of thumb - Whilst the policy is relevant then 6 years. This
allows for things to come out of the woodwork without having to keep too
much information for too long.
I have added my thoughts to your queries below.
regards
Keith Batchelor
Batchelor Associates
Records Management & Health and Safety
http://surf.to/keith.batchelor
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----- Original Message -----
From: "Fiona Lewis" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Friday, October 20, 2006 10:03 AM
Subject: Insurance Claims- Retention Periods
Hi All,
I have had the following request from a member of my organisation:
Can you please provide us with data retention periods for the following
scenarios:-
*Insurance claim submitted to the Council and insurance payment made
- Age 25 or rule of thumb
*Insurance claim submitted to the Council and no conclusion yet reached
- conclusion plus age 25 or rule of thumb
*Insurance claim submitted to the Council and rejected.
- Age 25 or rule of thumb
*Insurance claim submitted to the Council in error, should have been
submitted to another body
- suggest 6 to 12 months
Our retention schedule states 'Settlement of claim plus 6 years (allowing
claimant to reach 25 years old)' for settled claims but that's all and the
reason is good business practice.
I would be very grateful if anyone could advise me and let me know of any
statutory or best practice guidance.
Many Thanks.
Fiona.
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