A New York producer recommends an indexed annuity to a 58-year-old consumer in 2026. Under Reg 187, how long must the producer and insurer retain the suitability information collected and the documentation supporting the recommendation?

Why this is the answer

11 NYCRR § 224.7(c) imposes a minimum 6-year retention requirement on insurers and producers for the suitability information collected from the consumer and other materials used in formulating the recommendation. The clock runs from the date of the recommendation or sale. The 6-year period exceeds the older 3-year suitability rule because Reg 187 contemplates longer-tail review of best-interest documentation by DFS Investigations. Per 11 NYCRR § 224.7(c).