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Growing interest in Downstream Data sign of the times

Even though uniquely designed for secure destruction service providers, no one expected NAID’s foray into professional liability insurance to be an overnight success. First of all, with the majority of NAID members having no such coverage already in place, it would be a new expense for them.

“Successful business people aren’t inclined to add a new expense unless they are required to or unless it has a good return on investment,” said Tom Simpson, board chairman of NAID’s subsidiary holding division. “With members now realizing customers want the coverage, it is creating a distinct marketing advantage and that’s where the ROI comes in.”

“When I learned that for the cost of a new set of truck tires, I could get such an effective market advantage it was an easy decision,” said NAID Past President Scott Fasken. “If anything, I underestimated just how effective that advantage would be.”

NAID does not release specifics on the number of policies issued to date, but as many policies have been issued in the last six months as in the prior year.

According to NAID CEO Bob Johnson, it is not only the increase of Downstream policyholder but the quality of members obtaining it.

“When you look at the members getting on board, they are the most admired and recognized companies in the industry,” said Johnson. “That speaks volumes.”

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