On Wed, Apr 1, 2015 at 11:13 AM, Zimmerlin, James S. <
[log in to unmask]> wrote:

> I was just curious if others on this list have insurance policies covering
> the recovery of paper and other physical records in the event of a
> disaster. If so, how much?
>
> I guess the better question is whether anyone is familiar with, and
> willing to share, information on standards or best practices for insurance
> coverage of physical information assets.
>

James-

This subject has come up here periodically and was a topic of discussion at
a past NFPA 232 Technical Committee meeting...  where a lot of CRC owners
and insurers were present.

Their opinions were that for the most part, THEY DO NOT offer the
coverage... if a client wants it, they need to "self insure".  That
requires you to have a registered fire protection official do an inspection
of the facility to ensure it meets local/state building construction and
NFPA standards for both construction and protection.

Your cost of coverage is based on X$ per $1000 of value you place on the
records... so you need to determine if you base that on what it would cost
you to regenerate them, or the losses you might suffer for failing to
produce them (for regulators, clients, etc) depending on the type of
business you're in.

In many cases, the cost of coverage per year, multiplied by how long you
anticipate having them stored, can exceed the cost of calling them back and
either imaging them or making duplicate copies, to store in other locations.

Insurance is only one aspect of "protection" when it comes to valuable
papers or vital records.  You obviously have to ensure the content remains
persistently accessible for the length of your required retention period/s,
but there are multiple aspects of disaster prevention and protection
available to you.  Some times, no matter how much money you get back, you
STILL can't replace the information contained in those records.

Larry

-- 
Larry
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*----Lawrence J. MedinaDanville, CARIM Professional since 1972*

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