Singapore legislation
Regulation 9
Regulation 9
Record keeping
Subregulation 1
A designated insurer must keep all records relating to each claim under every approved policy issued by the designated insurer until either of the following periods expires:
10 years after the latest of the following events, as may be applicable to the claim:
the withdrawal of the claim;
the issue of an order of compensation to the effect that no compensation is payable in respect of the claim;
the payment of the compensation payable on the claim; (b)15 years after the date of the deemed claim under section 35(1) of the Act.
Subregulation 2
The requirement under paragraph (1) continues to apply under section 32(1) of the Act despite the expiry, suspension or cancellation of the designation of the designated insurer.
Subregulation 3
A person that contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction —
to a fine not exceeding $2,000; or
if the person is a repeat offender, to a fine not exceeding $4,000.