Original Paperwork Vs E-copy

[Milkman1265]

I am trying to clear up some paper work, how long do you guys keep hard copy with wet signatures?

I scan them right when im finish with an account/case. I have a ecopy of each application and supporting documents backed up online 3 ways...

is there a need to ever hold the hard copy?

i read that ecopy is just as legal as hard copy?

this is related to all insurance applications.

 

[hassy99]

I am trying to clear up some paper work, how long do you guys keep hard copy with wet signatures?

I scan them right when im finish with an account/case. I have a ecopy of each application and supporting documents backed up online 3 ways...

is there a need to ever hold the hard copy?

i read that ecopy is just as legal as hard copy?

this is related to all insurance applications.

I had a TPA (third party administer for health plan). We started scanning all docs. Including the original application.
We ended up storing almost three million pieces of docs of site.
We finally learned that the best doc you have available would suffice for our purposes. If all we had was the digital capture then that would suffice

We ended up with a rule of keeping paper files for 90 days. Then they were shredded. (Things happen with computers and humans who are in carte of the process). We felt this was long enough to be sure all docs were in system without errors

I believe you are correct that the e copy is legal. Just make sure your ecopy is ok and backed up before destroying your
paper

 

[TwiLight]

is there a need to ever hold the hard copy?

1-5 years depending on your States Statute of Limitations on Fraud if you do not send hard applications/forms directly to the home office.

Usually your Agent Agreement or insurance company policy will dictate this also and will vary by company and State.
.

 

[hassy99]

1-5 years depending on your States Statute of Limitations on Fraud if you do not send hard applications/forms directly to the home office.

Usually your Agent Agreement or insurance company policy will dictate this also and will vary by company and State.
.

You may be right. But. SOA (scope of appointment) forms. Is 10 years

The real question is. Would a scanned or electronic copy satisfy as being the same as the original. In the claims arena. It did. Not sure about SOA's or the like?

 

[Milkman1265]

yeah, pretty much i want to talk about the legal issues of not being able to produced a hard copy, but have a scanned version of the original.

i've talk to several digital signing companies and some research online, that the ecopy is just as legal, but it was in a receipt and back up copy for non-professional documents.

i know there is a e-signature law that signing on a screen or online is the same as signing on paper. so it is acceptable to have a e-copy only.

but i dont know how this plays within a professional setting, insurance office.

 

[VolAgent]

yeah, pretty much i want to talk about the legal issues of not being able to produced a hard copy, but have a scanned version of the original.

i've talk to several digital signing companies and some research online, that the ecopy is just as legal, but it was in a receipt and back up copy for non-professional documents.

i know there is a e-signature law that signing on a screen or online is the same as signing on paper. so it is acceptable to have a e-copy only.

but i dont know how this plays within a professional setting, insurance office.

Just a little logic. Of course law isn't always logical.

How many companies make you mail in the original hard copy with wet signature? Most insurance companies never get a wet signature anymore. 1035 exchanges being a rare exception. Not only that, many have gone paperless and destroy any originals they do receive in addition to the copy you sent.

 

[supersupps]

anyone able to get a sig via their clients pc?