NBFAA Insurance Program for Dealers Called ‘Success’
SILVER SPRING, Md. — It has been nearly a year since the National Burglar and Fire Alarm Association (NBFAA) helped start up the Security America Risk Retention Group Inc., which provides general liability coverage for NBFAA-member companies. Those involved say it has been an unqualified success, saving a lot of money for small- to medium-sized dealers. “So far, over a half-million dollars in premiums have been written into the program,” says Mark Neupert of Marsh Advantage America, which developed and manages Security America. He says security contractors haven’t been much different from clients he dealt with before.
“Most of them are small business owners who want to feel like they’re getting a fair deal. This is solely focused on the alarm industry. This has all been built around the alarm dealer.”
Security America has taken 156 clients since its start-up Oct. 8 and Neupert says plans are for continued growth. “The ultimate goal is for this to be a long-term, viable solution,” he says. “The problem is the industry has seen so many carriers come and go. We won’t be tainted by outside industry. The cost structure is significantly less. All that and the support of the NBFAA should keep this a long-term solution.”
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