Hurricane Katrina increased law firms' awareness of the importance of proper records retention. One natural disaster can quickly destroy an entire facility, including all of the firm's records. Chubb's handbook helps law firms better understand that while there is no one 'silver bullet' for records management, several considerations can help a firm build a suitable records management policy. |
If important documents are stored in a carton that is inaccurately coded and, therefore, can't be found and produced in a timely fashion, that can lead to adverse jury instructions, a mistrial or even the dismissal of the claim. |
Law firms that have not developed a good records management policy may fail their clients and be faced with a costly liability lawsuit. Proper documentation is part of the foundation of the legal profession-both electronic and paper records must be retained and stored according to state and federal laws. In the wake of the Sarbanes-Oxley Act and other new reporting laws, the pressure has further increased on law firms to employ best practices for document storage and disposal. |