Enhanced Insurance Coverage Now Available through Security America

Security America Risk Retention Group (Security America RRG) announced today that companies have a new option for added insurance coverage through the availability of an umbrella policy with up to $4 million over primary coverage.

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 omission (E & O) insurance policies. With this umbrella policy, policyholders can add 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.

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 throughout the country, Security America currently provides professional E & O and general liability insurance to more than 500 alarm dealer businesses.

Liability insurance, whether it is auto related or business related is the insurance that pays for expenses such as the injured person’s medical bills, rehabilitative therapy, and lost wages due to the insured person’s negligence. The liability portion of an insurance policy also covers a legal defense representative if the negligence would result in a lawsuit. After adding up all of the medical expenses for the injured and the legal fees of the negligent person, the standard liability in one’s auto or general liability policy is often not enough.

“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,” said Cecil Hogan, president of Security America.

Since the start of the program, Security America has provided direct coverage of up to $1 million. In addition, its policyholders may obtain excess insurance coverage up to $5 million. Domiciled in Vermont, which regulates more RRGs than any other state, Security America is registered in 50 U.S. states and the District of Columbia.

In January 2005, Security America partnered with Beecher Carlson, a 27-year veteran of risk management consulting services to handle the underwriting and marketing functions of the program. Beecher Carlson works cooperatively with local brokers allowing members to maintain established relationships with their current broker while saving money with Security America. Contact Security America today at (866) 315-3838 to get a free quote.


About NBFAA
NBFAA, a non-profit 501(c) 6 trade association, is the nation's oldest and largest organization dedicated to representing, promoting, and supporting the electronic life safety, security, and systems industry. Member companies specialize in a wide spectrum of services to commercial and residential consumers, including security and fire alarms, video surveillance, access control and monitoring. In cooperation with a federation of state associations, NBFAA provides government advocacy and delivers timely information, professional development tools, products and services that members use to grow and prosper their businesses. The NBFAA may be reached at (888) 447-1689 or on the Web at www.alarm.org.