19.5. Claims handling
19.5.1. Claims handling—general requirements
An Insurer must:
(a) handle claims promptly and fairly;
(b) provide its Client with reasonable guidance on making a claim, and update it on the progress of its claim;
(c) (including by terminating or avoiding a policy); and
(d) settle claims promptly once settlement terms are agreed.
19.5.2. Claims handling—recordkeeping
(1) An Insurer must make a record of the following information in relation to each claim made against a policy issued by it or handled by it:
(a) details of the claim;
(b) the date the claim was settled or rejected;
(c) details of settlement or rejection, including information relevant to the basis for the settlement or rejection.
(2) The Insurer must keep the record for at least 3 years after the day the claim is settled or rejected.