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Subject: Re: What do you expect of your offsite records storage provider?? ?
From: Hugh Smith <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Tue, 31 Dec 2002 16:55:22 -0500
Content-Type:text/plain
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text/plain (71 lines)


Snip from Ginny:

>  Therefore, in a very large facility, the
> chances of all my records being located inside only one compartment are
> slim.  If a fire breaks out in one compartment in a properly
> constructed
> facility, then the records in the other compartments will most likely
> not be
> damaged.  I don't loose ALL my records stored at that facility.
>
> Granted, these requirements are not placed on commodity warehouses.
> The
> loss of canned peaches, computer boards and car parts are not as
> devastating
> to business continuity (especially for multiple businesses using a
> commercial storage facility).  More peaches can be canned and more
> computer
> boards and car parts can be manufactured.  The inactive records I have
> stored at the records facility, for the most part, cannot be
> reconstructed.
> Those that may possibly be reconstructed usually can only be done so
> at a
> prohibitive cost.
>
> Ginny Jones
> (Virginia A. Jones, CRM)
>

Something to consider is the insurance replacement value. If you burn
up peaches or computers you will have insurance that will replace the
entire value less a deductible.

Your insurance company will not do this with records. What value to
they represent? They might be worth the entire value of your company or
they might be worthless? Who is to say? In fact, in every collection of
records I would bet that both types reside in storage. Those worth
everything and those worth nothing. Until you need them in a lawsuit or
an audit or a shareholder action, or a malpractice claim they are just
so much paper.

If the company that allowed your peaches to be destroyed had to
reimburse you, they would reimburse the value of the loss or they would
have a disclaimer that transferred the liability back to you and you
would insure it. Either way, insurance would cover the loss.

In records storage, you would not receive any compensation unless you
had "Valuable Papers" insurance.  But if you do this, you must have a
clause that prohibits them from suing the records storage company that
was involved in the loss.  Otherwise they will sue the company storing
the records to try to reclaim some of their loss and then you will end
up indemnifying the loss anyway. This results in all of the "Valuable
papers" insurance premiums being a waste of money.

I have had a number of PRISM companies respond to me and in every case
they are providing their clients exactly what they want. In fact, in
most cases they were much more secure than the owner of the records
were. That the trend was to increase their security with every addition
or remodel. This is one of the reasons that offsite storage is growing
so fast. Management will pay for good vendor storage more readily than
they will remodeling their own offices. As long as PRISM companies
offer a steadily increasing quality in their storage environments, this
trend will continue.


Hugh Smith
FIRELOCK Fireproof Modular Vaults
[log in to unmask]
(610)  756-4440    Fax (610)  756-4134

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