Posted on May 17, 2014
Security & patrol personnel provide valuable services to the companies that employ them and the community at large. Their tasks are simply to protect and guard against theft, vandalism and other illegal activities. While it would seem that security guards and patrolmen are one and the same, the fact is that their duties involve very different requirements. Security guards usually maintain one position in a guard house, reception area or other assigned facility while a patrol person is actually mobile and either drives or walks around a property for security checks and surveillance.
General Liability Insurance
Insurance coverage for security companies and their personnel starts with commercial general liability to fully protect the company from any allegations or lawsuits related to products & completed operations, personal injuries or property damage. But additional liability endorsements are necessary to provide the most comprehensive package to fully protect security companies. These specialized coverage options include:
· Assault & Battery - covers security guards in the event they make physical contact with a suspect and threaten them in some way. The injured party may allege assault and battery if they perceive unreasonable force was used.
· Incidental Medical Malpractice - covers security personnel in situations where they provide first aid in the course of their employment and the injured person alleges medical malpractice against security employee and the company.
· Personal Injury - this additional coverage protects companies from allegations of false arrest or detention, slander and libel claims.
· Malicious Prosecution - when an injured party brings civil or criminal action against a security company and its employees without probably cause, this insurance coverage protects a company and its employees from frivolous lawsuits.
· Invasion of Privacy - many security companies offer surveillance services and this type of policy protects them from claims of voyeurism, invasion of privacy and discrimination.
· Lost Key Coverage - many security firms provide guards and patrolmen with master key privileges. If they lose the keys and theft occurs, this insurance pays to replace locks. The property insurance portion of policy covers the theft of goods.
As with most businesses, property insurance is vital to protect security company offices from covered events such as fire, theft, wind or vandalism. Property policies will cover loss or damage to buildings, furniture, equipment and valuable documents. Additional coverage may be added to cover business interruption so that should a covered event happen such as fire, the insurance will reimburse business owners for expenses of business while the offices are closed for repairs.
Workers Compensation Insurance
Workers comp coverage is required in most states, and this insurance will pay for medical treatment and lost wages should a guard or patrolman be injured or become ill while on the job.
Security companies must protect their employees and the businesses they serve. Security guard insurance can fully cover these firms from issues resulting from accidents and lawsuits that would otherwise potentially cause financial devastation or closure of the business. While the security industry can be considered a risky business, insurance companies can take some of the risk from business owners so they can have peace of mind while running their companies.