Presentation on theme: "This unique insurance is available exclusively to members of NBFAA."— Presentation transcript:
This unique insurance is available exclusively to members of NBFAA.
You Do You Have General Liability or Errors and Omissions Exposures? General liability policies provide coverage for bodily injury and property damage. Errors and omissions (E&O) policies provide coverage for liability resulting from economic loss. Exposure to losses may include claims of inadequate or improper installation; negligent maintenance, servicing, or inspection of systems and equipment; or negligent monitoring in the central station. Considering these potential exposures to loss, you have a substantial stake in protecting yourself and your business from these types of claims.
General Liability/E&O Coverage Our policy is based on industry standard forms, parts of which are modified to accommodate the needs of the security industry. Deductibles: The standard deductible is $1,000. Optional deductibles of $2,500, $5,000 or $25,000 are also available. Limits: Each Occurrence:$1,000,000 Personal and Advertising Injury:$1,000,000 Products-Completed Operations Aggregate:$2,000,000 Professional Liability: $1,000,000 General Aggregate: $2,000,000 Fire Damage: $50,000 any one fire Medical Payments:$10,000
Security America Why Should You Choose Security America ? Security America is the only insurance program created exclusively for the security industry. We offer: Tailored and specific industry coverage Consistent premium pricing Fast and efficient claims handling Reinsured by Swiss Re, an A.M. Best “A+” rated company Purchase availability through your local broker Insurer safety and stability Fully regulated by all states Adequacy of loss funds assessed in annual audits and actuarial analysis
$500,000 $1MM $2MM $3MM $4MM $5MM Security America $6MM Excess Liability Limits Defense costs are in addition to limits. Swiss Re America $500,000 up to $6 million per loss limit General liability and errors & omissions – ONE policy with limits up to $6 million per occurrence/$6 million aggregate
Umbrella Liability Limits Defense costs are in addition to limits. Primary policy with limits of $1 million per occurrence/$2 million aggregate $500,000 $1MM $2MM $3MM $4MM $5MM Security America Swiss Re America $6MM Separate umbrella policy with limits of $5 million per occurrence/$5 million aggregate General liability and errors & omissions – TWO policies with limits up to $6 million per occurrence/$7 million aggregate
Security America Why Many of Your Colleagues Have Chosen Security America “Security America saved me $3,700 — I wish I had contacted them sooner!” Marshall Marinace Marshall Alarm Systems Corporation “My commercial liability policy was due to increase by $16,000. I had been with my provider since 1989 and had no claims. Security America actually decreased my premium by $1,800. My experience with Security America has been excellent. I would highly recommend them to anyone in the security business.” John A. Sperraza Advanced Alarm, Inc. “Using my local agent to sign up was easy and convenient. Best of all, I’m saving about $7,000 a year.” George Gunning USA Alarm Systems, Inc.
Security America Risk Retention Group Protecting Those Who Protect Our Homes and Businesses
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