Every business will need to dispose confidential papers at some point. Customer lists, sales statistics, price lists, drafts of bids, even company memos may have information about the company which competitors may deem as matters of interest. The information contained in these papers must be kept private; the company’s employees and customers have rights to have these types of information protected.
Without a proper disposal system, these papers could end up in the garbage where it can easily be preyed upon by anybody, and it wouldn’t be illegal. Business spies consider the garbage a treasure trove for information. Any business that discards private and vital information without destroying them exposes itself to the risk of making company secrets public. As a result, the company could suffer a huge financial loss and possibly shut down for good.
Did you know that some insurance companies have policies that cater solely to document disposal and shredding companies? Due to the sensitive nature of their work, companies that engage in the pickup, storage, delivery, cataloging, retrieval, and destruction of confidential information must obtain liability coverage specially designed to protect themselves from third party claims of real or perceived negligence. If your business handles sensitive company, customer, and employee data, take a cue from the document shredding industry and obtain insurance for your business.