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Deciding Which Paper Files to Keep, Which to Scan, Which to Shred

Armstrong Archives

If you’re in the business of sorting through piles of paper files, you may wonder how to distinguish between files you should keep, files you should scan, and files you should shred. However, once you know how to dispose or store certain files, sorting through paper records will become much easier. Bills of sale.

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Regulatory Update: NAIC Summer 2022 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2022 National Meeting (Summer Meeting) August 9–13, 2022. The Privacy Working Group has been reviewing state insurance privacy protections regarding the collection, ownership, use, and disclosure of information gathered in connection with insurance transactions.

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Regulatory Update: NAIC Summer 2021 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2021 National Meeting (Summer Meeting) August 14-17, 2021. Highlights include, among others, adoption of revised risk-based capital bond factors for life insurers, amendments to SSAP No. NAIC Adopts Revised Risk-Based Capital Bond Factors for Life Insurers.

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Record Retention Policy for Businesses: A Strategic Guide to Compliance and Efficiency

Armstrong Archives

For instance, a small healthcare provider would need to retain patient records for a different duration than a retail business would need to keep sales invoices. Tax Records: Essential for compliance, this includes IRS and state tax returns, sales tax records, payroll tax documents, and pension-related information.

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More Companies Are Digitizing Records Than Ever Before

Armstrong Archives

Beyond the pandemic, there are many reasons for this shift toward more paper-independent workplaces, such as mitigating costs and better serving customers in a digital marketplace. Projections indicate that 45% of the world’s top companies will increase their implementation of zero-paper workflows. Paper is expensive.

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Currency Exchange Company Travelex Hit By Ransomware Attack

Adam Levin

A week later, Travelex is processing transactions with pen and paper at its 1,200 branches located in more than 70 countries. . “To The hackers claim to have six months’ worth of sensitive customer data containing birthdates, credit card information, and insurance numbers. The attack was first detected the night of December 31.

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Regulatory Update: NAIC Summer 2018 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2018 National Meeting in Boston, Massachusetts, from August 4 to 7, 2018. NAIC Continues its Evaluation of Insurers’ Use of Big Data . The NAIC is also considering insurers’ use of big data in underwriting life insurance products.