We are pleased to announce that the NAID Board of Directors has appointed our very own Nate Segall of AccuShred in Toledo, Ohio to serve as a director on the NAID Worldata Holding Company Board (NWHC). The NWHC is a member-owned subsidiary which oversees the association’s activities relate to Downstream Data Coverage.
Downstream Data Coverage is the only professional liability insurance designed for the unique risks of today’s data-related service provider and the customers they serve. It validates the vendor’s operational security with the regularly announced and unannounced audits that are required for NAID AAA Certification.
“The association’s plans regarding Downstream Data Coverage are no secret,” said NWHC Chairman Tom Simpson. “We already have a superior policy and a built-in, loss control mechanism. The next step is to convert it to a member-owned captive risk retention group, which has the ability to reduce premiums well below current market.”
Segall, a past president of NAID, said he strongly supports the plan and takes his participation very seriously.
“This kind of initiative demonstrates just how beneficial associations can be,” said Segall. “The federal government gives us the ability to craft coverage that works best for our particular exposure, develop a way of limiting those risks, and set the premiums based on that safe record. It’s up to the NWHC Board to make sure that happens and one has to take that responsibility seriously in accepting this job.”
NAID is the sole shareholder of the NWHC and, as such, all leadership positions within its Board must be approved by the NAID Board of Directors.