No policy of title insurance, excluding reinsurance, shall be written unless and until the title insurance company, either through its own employes, agents or approved attorneys, has conducted a reasonable examination of the record title or has caused a reasonable examination of title to be conducted. The abstract of title or the report of the examination thereof shall be in writing and shall be kept on file by the title insurance company or its agent or approved attorney for a period of not less than twenty years after the policy of title insurance has been issued. In lieu of retaining the original copy, the title insurance company or the agent of the title insurance company or the approved attorney of the title insurance company, may, in the regular course of business, establish a system whereby all or part of these writings are recorded, copied or reproduced by any photographic, photostatic, microfilm, micro-card, miniature photographic or other process which accurately reproduces or forms a durable medium for reproducing the original.