How long should one keep insurance documents? Seven years? Maybe 10? A recent appellate court case that relied on proof of insurance between 1961 and 1965 to get a trucking company off the hook for $9 million suggests to never get rid of any documentation, even from 50 years ago.
The case goes back to 1999, when the United States filed a lawsuit against Monsanto and Solutia seeking costs taken on by the Environmental Protection Agency for removing hazardous substances from Dead Creek in Sauget and Cahokia, Ill. According to the original lawsuit, Monsanto owned plants in the area from 1900 to 1997 and disposed of hazardous waste that found its way to the creek.