Every business has records that it needs to keep. With the acceleration in technologies and changing work practices, the way we store information is also evolving. Hard copy records (while still necessary in certain areas) are less frequently required than the storage of electronic data including email and computer backups. The way you store your work records may have implications for your business insurance. Massachusetts business owners might like to note the following.

On-Site: It has long been usual practice to store work records on site. This makes everything easy to access but does not provide a safety net should your work be hit by fire, theft or vandalism.

Off-site: It’s possible to keep hard copy records off site in a dedicated storage facility and always advisable to keep a backup of electronic data off site in a secure location. You may have to pay more for a storage service but it usually provides a better level of protection.

Cloud computing: Cloud computing refers to the provision of online services over the Internet. This means servers are not kept in your office but everything is stored online by the provider you have paid for such a service. This has benefits in terms of space and ease, but as with hard copy records, if the information is only stored in one location there are implications for your business.

Should you change the way you store your business data, be sure to check how it may impact your Massachusetts business insurance. Massachusetts insurance agents can offer advice and information if you are unsure.

 

 

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