Enhanced Liability Insurance Now Available Through Security America
Security America Risk Retention Group (Security America RRG) announces it is providing alarm companies a new option for added insurance coverage through the availability of an umbrella policy with up to $4 million over primary coverage.
Formed by the National Burglar & Fire Alarm Association (NBFAA) in 2003, and specifically tailored to meet the needs of electronic life-safety, security, and systems professionals, Security America currently provides professional errors and omission (E & O) and general liability insurance to more than 500 alarm dealer businesses.
Umbrella insurance is designed to provide added liability protection above and beyond the limits on auto, workers’ compensation/employers liability and general liability and errors and E & O insurance policies. The umbrella policy offers policyholders an additional $1 to $4 million in liability protection. Security America’s umbrella coverage is reinsured by Swiss Re, which is rated A+ by AM Best.
The standard liability in an individual’s auto or general liability policy often falls short of complete coverage, says Cecil Hogan, president of Security America.
“What every alarm dealer should ask themselves is: If an unfortunate accident should happen that is your fault, or the fault of one of your employees, do you have enough liability insurance from your current policies to cover your costs for negligence? Since no one can predict how much a judge may award a claimant, umbrella insurance is not just for large alarm dealers and monitoring companies, but a needed protection for every business,” Hogan says.
For more information, call (866) 315-3838.
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