Archive for Security
Alarm Companies
Bailees Customers Insurance
This is a form of extra expense coverage instead of legal liability coverage. Coverage applies to measurable expenses involved in withdrawing the product, including cost of communications, shipping charges, radio and television announcements, newspaper advertisements, costs of hiring additional personnel, paying overtime to regular employees, and costs to destroy the product, if necessary. This coverage applies to only those expenses directly related to withdrawing a suspected defective product from the market. In most cases, coverage is written subject to both deductibles and coinsurance.
Burglar, Fire Alarm and Safety Equipment Company Liability
The insurance industry strongly encourages its clients to purchase a variety of safety equipment but few insurance companies are willing to insure safety equipment providers. Manufacturers, distributors, and businesses that install and service fire extinguishers, burglar alarms, sprinkler systems, and ventilation hoods with extinguishing systems for restaurants may find that only specialty markets can arrange coverage for their unique exposures and needs.
Courier and Messenger Services
Courier and messenger services present significant insurance exposures because their vehicles operate almost nonstop in urban areas during normal working hours. In addition to auto exposures, couriers and messengers may also use bicycles, skates, or other means on sidewalks that create general liability exposures. Each risk must be considered carefully and cautiously. Premiums and deductibles depend on the operation’s size, the area served, and the type of vehicles used. Older vehicles are usually subject to mandatory inspections.
Fire Protection Industry
These are service contractors that sell, service, install and repair fire protection and suppression systems such as sprinklers, extinguishers, fire extinguishing systems, grease cleaners, and wet chemical fire suppression. Package programs are available that cover general liability, products liability, and errors and omissions. Some also cover incidental alarm installation.
Private Corrections Industry
The privatization of the prison correctional system in the United States is well established. Local, state, and federal authorities often turn to private industry to provide correctional services. Coverages available include commercial general liability, products/completed operations liability, medical malpractice, and errors and omissions. These coverages are usually written on a claims-made basis and errors and omissions coverage usually covers violations of civil rights.
Private Investigators
Liability coverage for security patrols and detective agencies is available from primarily excess and surplus lines markets and specialty coverage programs. Underwriters pay close attention to employee training, use of firearms, the exact type or nature of patrol work performed, use of guard dogs, and previous losses. Premium is based on payroll and coverage is subject to a deductible. Some underwriters and programs include professional liability coverage and personal injury liability coverage.
Security Guard and Private Investigation Liability
Liability coverage for security patrols and detective agencies is available from primarily excess and surplus lines markets and specialty coverage programs. Underwriters pay close attention to employee training, use of firearms, the exact type or nature of patrol work performed, use of guard dogs, and previous losses. Premium is based on payroll and coverage is subject to a deductible. Some underwriters and programs include professional liability coverage and personal injury liability coverage.