I'm curious to know how the groups various companies, organizations,
etc. are handling the insurance and indemnification contracts you put in
place with your third-party records storage providers; if, in fact
you're using third-party providers.

It appears, again speaking from my experience, that most are putting the
full weight into the "Indemnification" section.  That section seldom, if
ever, has anything to do with an insurance company but rather speaks
directly to what your records storage provider will indemnify their
client for; not what their insurer has agreed to indemnify them for.

In the majority of contracts I've reviewed, the indemnification section
greatly exceeds the ability to insure it.  The problem for the contract
holder is that you have no way to know the financial stability of the
records storage provider that just promised to indemnify you.  If they
don't have the money and their insurance doesn't respond......well, you
get the point.

Feel free to respond to me off-list if you like.  Regardless, it seems
like it's time to start bringing together both sides of this mutually
related industry on these issues.

Thanks!

Kenneth S. Fontana
Insurance Risk Managers of MO, Inc.
800-221-7686 toll free




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