Insurance for Alarm or Security Monitoring

Monitoring systems are used for many purposes. One system can be installed to protect property while another is used to call for assistance in case of a medical emergency. The system can be triggered by an alarm or a manual device. All systems have three components. The first component is the off-site system or device that sounds the alert. The second part is the person, located at the monitoring office, who receives the alert and responds according to the training received. The third component is the action of the responding party. The responding party could be an employee of the alarm monitoring company, an employee of the client company or emergency first responders, such as the police or the fire service.

At Business Insurance Service, we understand not just the insurance industry, but the commercial sector too. Our brokers have years of experience and expertise in finding professionals from across all disciplines the right kind of Liability and Professional Indemnity insurance cover for professionals, giving both sole traders, SMEs, and large security operations the protection they need.


What Insurance does a Alarm or Security Monitoring company need?

Minimum recommended cover can usually be arranged on a Commercial Combined policy to include Buildings, Computer Equipment & General Contents, Increased Expenditure, Employee Dishonesty, Public Liability, Employers’ Liability

Other covers to consider are Cyber Liability, Employment Practices Liability, Commercial Vehicle, Employee Benefits, Directors and Officers Liability, Excess of Loss/Difference in Cover.

Property insurance

Property exposures are significant because of the type and extent of computer equipment and communication devices at each monitoring station. This may include additional backup and maintenance equipment needed to keep the equipment and devices operational around the clock every day of the year. This property is in constant use, causing additional strain on the equipment. The one positive feature is that the property is under constant supervision.

Property liability

Premises liability exposures are limited because only employees should have access to the premises. Access by the public is generally prohibited. Personal injury is a significant exposure because both homes and businesses are monitored and confidential information gathered on those clients could be used to cause them harm or damage. The off premises exposure is significant if the monitoring service responds to the alarm. Background checks, monitoring and supervision of all employees is standard practice.

Crime Insurance

Crime exposure is from Employee Dishonesty both from the employer and the client. Background checks of all employees including verification of criminal records, education and employment background.

Business Interruption (Loss of Income)

Increased Expenditure exposures are significant because service contracts and agreements require that the client’s alarms be monitored constantly. Continuity plans, contracts and arrangements should be in place to provide for a seamless relocation if a loss disables the monitoring location.

Employers’ Liability Insurance

Employers’ liability exposures primarily involve office exposures, so work stations should be ergonomically designed and appropriate for the work performed. Stress-related illnesses arise periodically. The contracts with clients should be examined and evaluated to determine the exposures faced by employees who respond to alarms.

Professional Indemnity Insurance (PI)

Professional liability is involved because the intent of guard and security services is to provide customers with safety and security to their property and person. Anytime a loss occurs to the property or person of a customer from services provided by the security agency, such as fire and crime, the security service will have to account how for how it failed in its professional duty.

Because more and more emphasis is being placed on security, the commitments and promises of the security operation are important to review and evaluate. Training, supervision and monitoring are crucial to the operations. It is also important to have a clear contract, with each client explaining services and offering advice. These agreements must be signed, and it should be noted where services were recommended and not taken.

Commercial Vehicle / Motor Fleet

Motor vehicle exposures may be limited to sales representative fleets or responds to alarms. The warranties and guarantees provided concerning response time should enable employees to respond without having to break or disobey any laws. The driving records of all regular drivers should be reviewed periodically

What other risks do Alarm or Security Monitoring companies face?

Other exposures are from computers, book debts and deeds and documents. Electronic engineering—damage & breakdown is a potentially significant exposure.

Why not discover more about Business Insurance Service? Or simply get in touch with our services today.

How can Business Insurance Service help Alarm or Security Monitoring companies?

Whether you’re a sole trader or a small to large company, your insurance portfolio has to be up to date and provide you and your business with the right level of protection. Rather than trying to find liability or professional indemnity insurance by hunting through countless websites, let us or our website do it for you.

We’re members of the British Insurance Brokers Association (BIBA) and work with some of the largest and best-known insurance providers in the UK, including Lloyds of London for larger, more complex and high-risk customers. We’re fully regulated and committed to delivering a premium quality, trustworthy and reliable service to all our customers, regardless of size.

As preferred brokers working with some of the largest insurance providers in the UK, we have immediate access to a huge range of policies for various businesses, including vets and surgeries. We provide our customers with a bespoke or package service, creating insurance portfolios that are specifically tailored to your individual needs, and your budget.

A fully accredited service delivered by professional brokers

To find out more about insurance for the Security Industry call us on 01273 789 979

Email us at hello@businessinsuranceservice.co.uk

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    We’re members of the British Insurance Brokers Association and work with some of the largest and best-known insurance providers in the UK, including Lloyds of London for larger, more complex and high-risk customers. We’re fully regulated and committed to delivering a premium quality, trustworthy and reliable service to all our customers, regardless of size.