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Subject: Re: Insuring priceless records?
From: John Montana <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Fri, 28 Sep 2012 17:43:09 -0400

text/plain (41 lines)

Larry Medina wrote:
> I think the question would be how do you tell an insurer what the value is?
Agreed on all points.  There's be a good deal of back and forth on the 
real value and current condition of the contents, and then a lot of 
discussion of the conditions of transport and storage as well, since 
that would materially affect risk also.  But I would bet that the 
service provider has a standard limitation of liability clause in their 
contracts that limits damages to some liquidated and relatively nominal 
amount, so at the end of the day, you either bear most of the risk 
yourself or buy what might be a pricy insurance policy.  On the other 
hand, it might be relatively cheap -- I've purchased an assortment of 
malpractice and E&O policies over the years, and a couple of million 
dollars' worth of coverage wasn't all that pricey, so if they're 
satisfied that the conditions of transport and storage are good, and if 
the film is really that valuable, it might be a good and relatively 
inexpensive investment.

Best regards,

John Montaņa
Montaņa & Associates
29 Parsons Road
Landenberg Pennsylvania 19350
484-653-8422 mobile
[log in to unmask]
twitter: @johncmontana

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