Electronic security and life safety installation and monitoring companies face significant risk each day: injury to workers, fleet accidents, property damage and lawsuits can all impact day-to-day operations and bottom lines. Fourteen years ago, the Electronic Security Association set out to create a program that would cover the specific needs of the industry at reasonable rates, shielding its members from the unexpected. At that time, Security America RRG was formed.
With no significant rate increases throughout fourteen years of operations, Security America is now restructuring to continue to deliver on its mission of providing quality coverage at minimal cost.
Today, Security America announces it is consolidating its general liability insurance program under its A Rated insurance program, Security America Risk Purchasing Group. This consolidation simplifies Security America’s insurance offerings under one entity and provides various efficiencies, including reduced overhead costs related to service provider fees, regulatory compliance and maintenance of A.M. Best ratings.
Under the consolidated approach, Security America will no longer need an A.M. Best rating, as all insureds will now receive A Rated insurance coverage through Security America Risk Purchasing Group’s binder with syndicates of Lloyds of London. Pursuant to the restructure, all current Security America insureds will qualify for A Rated coverage upon their next annual renewal with no significant increase in rates.
Security America is committed to being there for electronic security and life safety installation and monitoring companies when they need it most, offering top-of-the-line customer service, satisfaction, and coverage at stable and affordable rates.
In addition to the higher-rated backing for all insureds — as many larger projects may contractually require this — the consolidation will allow Security America to expand its line of offerings. The expansion is slated to allow the company to offer:
- General liability
- Errors and omissions
- Commercial auto/fleet
- Workers compensation
- Cyber liability
While members of the Electronic Security Association will continue to receive discounted rates on all insurance lines offered by Security America, the program will also now allow all companies in the technology integration and monitoring space the ability to purchase its industry-specific coverage.