Record Retention. It’s not as simple as everyone thinks.
Significant and dangerous myths exist relative to this increasingly important topic. The first myth is that “records” means all records, not just paper records. Second, the solution is not to keep all records forever. Third, destroying all records after “X” years is not a good solution.
How long an agency MUST keep records is determined by many factors including:
- Federal Law
- State Law
- Their various contracts including their insurance company contracts
- Their own practices
The laws, contracts, and practices often contradict each other and therefore, an agency needs to determine which takes precedence, even when state and federal laws contradict one another. Additionally, some laws now mandate agencies destroy certain records, not just keep them “X” years. Agency practices need to address this important fact. Also, agencies today need to keep records from all mobile devices in a central location which means tying the producers’ cell phone emails and text messages to the agency’s IT system.
Keeping records for just the right amount of time and not longer is the solution, but it is a complicated solution. Probably no agency is equipped to do this on their own and to follow any simplified list is likely folly. To create a record retention system that will minimize your E&O risk and minimize your risk for violating the law, I highly recommend hiring an attorney that specializes in record retention law to guide you to safety.
Thank you to Mark Fidel at Computational Analysis and Network Enterprise Solutions LLC for his assistance with this article.
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