A title insurer or its appointed agent must maintain a record of actual premium charged for issuance of title policies for at least how long?

The correct duration for maintaining records of actual premiums charged for the issuance of title policies is seven years. This requirement ensures that title insurers and their agents have appropriate documentation to comply with regulatory standards and offer transparency in their financial practices. Retaining records for this length of time provides a sufficient period for audits, investigations, and addressing any disputes related to transactions that may arise within that timeframe. It also aligns with general best practices in the insurance industry, where retaining records for several years is essential for effective record-keeping and compliance with state and federal regulations.