Every security company is different, and we’ll work with you to identify and address your unique needs. However, here are some of the covers we most often provide to businesses seeking Security Insurance:
Public Liability Insurance
It’s likely that your business comes into frequent contact with clients and/or members of the public. It protects you against claims of injury or death to a member of the public, as well as damage to their property.
Imagine if a small act of neglect – an exposed wire or sharp edge – caused a serious injury to a third party. You could find yourself facing a lawsuit resulting in heavy financial loss. Public Liability Insurance protects you by paying out for the cost of defending your case as well as any compensation and legal fees.
Employers Liability Insurance
This cover protects you in a similar way to Public Liability. Only in this case, the individual filing a claim would be one of your own employees. An employee-driven lawsuit might sound improbable, but they’re on the rise.
What’s more Employers Liability is the one cover required by law if you have anyone working on your behalf – not just those on your direct payroll.
Efficacy and Contractual Liability
This grants indemnity for your legal liability related to the bodily injury to any person (other than an employee) and/or loss or damage to property following your failure to carry out the duties which you were contracted to perform, including deliberate acts, wilful default or neglect by your company or employees.
As a security specialist, an important part of your work is providing professional advice to your clients in order to enhance their safety. This could range from the installation of CCTV cameras and smoke alarms to the employment of security staff. If you were sued on the premise that you offered ‘bad’ advice, Professional Indemnity Cover would respond were a claim made against you.
Wrongful arrest cover
This covers you for the incorrect detainment of third parties. For example, you hold someone as you suspect they have stolen from a shop you provide retail security to. If it’s found the third party did in fact not steal anything or there is not enough evidence to support it, they could claim for their wrongful arrest. These claims can become very high and should be something that is included in all security specific policies.
Loss of keys / consequential loss of keys cover
This covers you for the costs to replace lost or stolen keys you hold for your clients. The add-on also extends to include any consequential losses your clients may suffer if the keys are lost or stolen. Limits vary between insurers, but it is an important thing to include if you hold keys for customers.
This covers theft and dishonesty by employees against third parties. For example, if a guard you supply orchestrates a theft from a site you are securing, this would fall against your insurance. This extension offer various limits between insurers, but does give you that extra protection against rogue employees and/or contractors. This extension also includes misuse of phones/internet, if, for example, a guard uses the site’s phone to make international calls.