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What Are The Insurance Requirements for The Security Industry?

What Are The Insurance Requirements for The Security Industry?

The security industry covers a broad spectrum, and this means that the insurance policies relating to the sector tend to be bespoke, rather than a one-size fits-all package. The type of cover will depend on the level and the nature of the risk undertaken by the company. here’s a look at the most common insurance needed for security-based businesses.

 

Events security cover

For a company that arranges and hosts events, such as sports matches, concerts, and so on, public liability insurance is essential. This will provide the business with cover, if a member of the public makes a claim because of injury or illness caused to them while they attended an event. It will also provide cover if property is damaged during an event.

Other types of cover that may be needed for events insurance include loss of keys cover, and contents insurance if there will be significant amounts of materials or valuable equipment at the event. Businesses will also need employer’s liability insurance, should a member of staff suffer an injury at work and bring a case against the company.

Professional liability insurance may be required for companies which specialise in organising and planning events, and making the security arrangements. It may be worth considering cancellation cover, which will protect the business against financial loss, should the event have to be cancelled at short notice.

 

Security industry inefficacy cover

Inefficacy cover is defined as ‘cover on the basis of failure to perform.’ This could be in relation to equipment such as security lighting, fencing, or alarms which don’t function as expected. It could also relate to staff who are accused of not dealing with a security situation in an appropriate manner.

Inefficacy cover is a bespoke policy that will be unique to each company. If you are looking for security company insurance, talk to us today.

What Security Industry Insurance Coverage Do You Need?

What Security Industry Insurance Coverage Do You Need?

The golden rule of insurance is that no two companies are alike, and this tenant is especially true when it comes to security insurance.

The security industry is a vast set of exceptionally different fields united under the common goal of protected health, wellbeing and property.

To that end, whilst there are some universal coverage packages you need as a security firm, such as Employers’ Liability, general liability, property and car insurance, different industries require a more bespoke slate of insurance packages.

Here are just a few different types of company working in the security sector and the types of insurance they might need.

 

Security Consultants

One of the most important businesses in the security sector is consultancy and the ability to deliver expert advice on which security measures would be the best solution to help protect businesses, from technological solutions to monitoring to the hiring of security guards.

However, there are cases that an incident occurs and the company blames the consultancy firm for their advice and brings legal action against them, for example for negligence.

Professional liability insurance helps to cover the firm from any action taken against them and ensure that even if a court case does not go the way of the consultancy firm, it does not necessarily lead to the end of the business.

 

Cyber Security

An ever-growing field in security, cyber security focuses on electronic data and how it is protected from people who wish to destroy or steal that data, which can lead not only to significant reputational damage but also can have significant financial consequences.

Cyber security insurance protects data controllers and data processors and covers the costs of refunds, credit notes, legal costs and consultation with crisis communication specialists.

 

Security Guards

With security guards being an essential part of protecting businesses across the world, inspecting the property and ensuring that bad actors are not able to compromise a place of business, they require a package of insurance policies that protects them if they are in harm’s way.

This means that policies such as personal injury insurance is a standard part of a security guard insurance package alongside general liability, professional liability and car insurance.

As well as this, however, there are provisions for wrongful arrest, where a guard faces criminal or civil charges whilst on duty, as well as provisions in case keys are lost to pay for any replacement locks or keys.

What Makes Security Business Insurance Different?

What Makes Security Business Insurance Different?

Every business has a set of challenges that make them unique, and the security sector is no different. Because security guards and equipment often operate in dangerous situations, security insurance provides dedicated cover to help protect both the business and its staff.

One of the key differences between security businesses and other industries is that often security works very closely with members of the public and so public liability becomes an even greater issue than it would be otherwise and is part of packages aimed at the security industry.

Public liability cover protects a business from the cost of legal claims made by members of the public made in connection with business, activities, which in this case would include personal security, manning the doors and protecting people in events.

Beyond this, an insurance package for the security industry will often include professional indemnity protection, which can be important for businesses that fit and facilitate security systems.

If, for example, a security system is fitted, but due to an error or omission damage is caused to the client, professional indemnity helps to cover the claim, giving the business more confidence and peace of mind to provide the best service possible.

Outside of crises, catastrophes, harm to the public and professional liability, security business insurance can help in a range of other ways, such as providing support in case of wrongful arrest whilst on duty and even cover in case keys are lost.

Exactly what components are in a security business insurance package will depend largely on the needs of the business and the provider themselves, but they should aim to cover the wide range of risks facing security professionals on a day-to-day basis.

Security Guard Suffers Dog Bite While On Duty

Security Guard Suffers Dog Bite While On Duty

There is always an element of risk involved for those working within the security industry and security guards in particular often find themselves faced with a wide range of different challenges to deal with while at work.

Physical injury is a concern, of course, and there’s often no way of telling when a situation may escalate, leading to an altercation. For example, one Asda security guard was recently bitten by a dog after he had a confrontation with its owner.

According to YorkshireLive, 39-year-old Steven Tiplady asked dog-owner Christopher Long to tie the animal up outside the supermarket, after which Long became aggressive, started shouting and refused to leave the shop.

Since the incident, Mr Tiplady has been diagnosed with PTSD, following bouts of insomnia and panic attacks related to the event. As a result, Long, 30, was jailed for two and a half years on July 14th 2020.

Incidents such as this highlight just how important it is for businesses in the sector to make sure they have the appropriate security insurance, a policy that is directly tailored to suit their own individual requirements for the work being undertaken and their personnel.

Everything from guarding shops and car parks to installing security alarms carries with it some element of risk, but you can help to mitigate this by investing in a good insurance policy.

Here at Just Quote Me, we’ve created specialist security insurance for our clients, with a policy specific to those working in the industry, designed for use by personnel with SIA certificates and training. Get in touch today if you’d like to find out more.

Security Insurance

Security Insurance

Security Insurance

At Just Quote Me we are highly experienced in working with professionals in the security industry. We appreciate the individual nature of each client and especially understand the importance of bespoke cover, specific to the security tasks at hand.

We work with these insurance providers to save you time and money

Security Company Insurance

In some areas of business, insurance is particularly essential. Security insurance for example can protect businesses with a high level of responsibility in protecting the valuables of others and can be devastated to the point of closure should a claim occur.

In conjunction with some of the UK’s leading insurance companies, Just Quote Me has created specialist Security Insurance, in the form of a policy which is specific to those working in the security industry. The insurance is specifically designed for anyone working in the security sector with an SIA certificate and training. Security company insurance needs to be specific and unique because of the intricacies and nuances of the sector.

Everything from installing security alarms to guarding shops, car parks and offices carries risk and some elements of this risk can be mitigated with a good insurance policy.

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See how much you could save with Just Quote Me. For more advice and guidance please call us on 0800 084 2325 or fill out our form below.
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FAQs

Security insurance is specific to each individual business. Most security insurance packages are bespoke, ensuring unique cover for the specific business duties and activities that take place in the company. Just Quote Me Security Insurance can include:

> Public liability insurance for security companies

Employee and public liability insurance cover all your employees and anyone who comes onto your premise. Accidents occur everywhere, and insurance covers you if anyone were to make a claim following an incident.

> Employers’ liability insurance

> Loss of keys cover

People lose their keys all the time. And if you’ve lost your company keys or they’re stolen, or in the wrong hands, you’ve got a security threat. Therefore, you need to cover yourself and the cost of replacing the locks and getting new keys made. This can be hugely costly and so worth considering.

> Misuse of telephones cover

Security company insurance covers you against company phone misuse. This includes when fraudsters ring the public claiming to be you. In addition to this, it covers you if your employees are using the phones for personal calls, which can be costly, especially if the call requires an extra fee.

> Wrongful arrest cover

> Security industry inefficacy cover

Firstly, inefficiency covers you if there is a basic failure to perform security tasks. This is covering you if something goes wrong and it’s because of issues outside of your control. It’s impossible to guard against every possible issue. Therefore it’s unique insurance to the security sector.

The most vital and most wanted cover within this range, specifically for security companies, is inefficacy cover. Below is a closer look at exactly why this type of insurance is so vital to security professionals.

Inefficacy cover simply means cover on the basis of failure to perform. It is a very bespoke type of policy which is almost entirely unique to the security industry. It is very specific to each kind of security role. Inefficacy cover can cover staff, for example if there are issues with a premises which they are guarding and the client sees them as not halting or controlling the issues. It can also relate to alarms and equipment. Inefficacy is almost impossible to guard against at the time of an event taking place which makes it even more essential that you have security inefficacy cover in place.

The cover available through Just Quote Me provides an automatic level of £5 million in public and products liability and £10 million in employers’ liability. Both of these are often requirements for working with local and national government, so you are primed to work on bigger contracts and ready to deliver your security services to any client that comes your way.

If you are going to be providing security as part of an event then you should have security insurance. This includes things like sporting events, festivals, conferences and fun days.

When you are looking for security insurance for an event, you need to find a policy that is tailored to your needs.

If you are the employer, then you be legally required to have employer’s liability insurance. You may already have this type of insurance, but your provider may not include external events in your policy. It is always best to check. Public liability cover will also be a necessity. This provides you protection in the event that someone is injured or property is damaged during the event.

You may also need to consider including professional liability insurance, especially if you are responsible for planning the security for the event. Cover for loss of keys is worth considering if you are acting as a key holder. Wrongful arrest insurance might be appropriate depending on the type of event. If there is a lot of equipment on-site, then contents insurance might be necessary.

Venues and public spaces around the UK will need to make sure they have certain measures in place to keep members of the public safe from potential terrorist attacks, with plans now being pushed through to introduce a law to that effect.

Under the new law, venue operators would need to consider the risks of an attack, taking reasonable and proportionate measures to prepare for and protect people from such incidents. These measures could include more security, incident response plans and training exercises for staff members on what to do if an attack takes place.

This new piece of legislation is sure to change the security industry and the training and qualifications that those in the sector will need to undertake.

For example, all security personnel will need to be trained in counter-terrorism procedures – and we’re due to start offering courses in this in partnership with JQML. If you’d like to find out more, get in touch with us today.

Our Customers Say

“Over 6 years ago, I was working on a door in the lake District when I met Oliver for the first time. We started talking about a variety of subjects, and he asked who I worked for. I informed Oliver that it was my company Tactical Security Options Ltd, and that we carried out a all aspects of security and protection.

Oliver informed me that he was involved in insurance. From that day forward I have used Justquoteme ltd, for my security company. The service, after sales, advice and assistance from Oliver personally has been outstanding.

So much so, if anyone asks me who do you use, I always say Justquoteme.

I highly recommend Oliver and his company, and we look forward to having a very long lasting relationship with him.”

David Pattinson
Managing Director
Tactical Security Options Ltd

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At Just Quote Me we are highly experienced in working with professionals in the security industry. We appreciate the individual nature of each client and especially understand the importance of bespoke cover, specific to the security tasks at hand.

Security Company Insurance

Security Company Insurance

Security Company Insurance Online Quote Quick Quote Security Company Insurance In some areas of business, insurance is particularly essential. Security insurance for example can protect businesses with a high level of responsibility in protecting the valuables of...
Motorbike Thieves Steal Valuable Jewels

Motorbike Thieves Steal Valuable Jewels

A jewellery shop in Liverpool has been targeted by a group of motorcyclists, who stole a large quantity of jewellery from the premises.

Police were called to Rebecca’s Jewellers on Lord Street in Southport at 2100 on March 21st after a member of the public alerted them to the incident.

Merseyside Police cordoned off the road, while also closing the area around a bus stop on Lord Street, preventing the public from accessing it.

Detective Chief Inspector Gayle Rooney said: “The investigation is in its early stages, and we will be reviewing all CCTV locally and speaking to business owners and anyone with information.”

While most of the motorcyclists got away, a 43-year-old man was arrested at the scene of the crime on suspicion of burglary as he tried to escape via London Street.

Although the exact contents of what was stolen remains unknown, the police are asking businesses and individuals around Merseyside if they have been offered any jewellery in the last couple of days.

“This would be a distressing and inconvenient experience for any business, and we will act on all information to find those responsible and bring them to justice,” Chief Inspector Rooney stated.

Just a few days before on March 18th, Merseyside Police was called to Co-Op store on Fylde Road, after the shop was broken into and the cash machine attacked.

These incidences show how frequently businesses are targeted by potential thieves hoping to steal money or items they can sell. Even though the premises had CCTV cameras, it is also important to obtain security insurance.

The Reasoning Behind The Strangest Insurance Policies

The Reasoning Behind The Strangest Insurance Policies

The unique business models, activities and products provided by different companies in the security industry require bespoke security insurance policies to protect the business from any potential issues that could come about.

Along with Employers’ liability insurance, insurance to protect security guards, public and professional liability insurance, there is a range of other policies out there specific to the activities the business usually undertakes.

However, there are always unusual circumstances, and in some cases, a loss adjuster will create a specialist policy with this in mind, just in case the most unlikely potential situation occurs.

Here are some of the most unusual insurance policies ever agreed to and the reasons why.

 

Space Station Taco Insurance

Whilst this may look like a non-sequitur, American fast-food chain Taco Bell once took out a custom insurance quote for a truly ridiculous publicity stunt.

In 2001, the Space Station Mir was deorbiting Earth and was set to land in the Pacific Ocean near Fiji.

Taco Bell put a sign in the ocean that measured 40ft by 40ft which simply read “Free Taco Here” and promised that if the core of the station hit that target, they would give everyone in the United States a free taco.

This cost, estimated at $10m, was sizeable enough that the chain opted to cover themselves just in case.

 

The Risks Of Being An England Fan

Baddiel, Skinner and the Lightning Seeds sang about “30 years of hurt” in 1996 and since then there have been nearly three decades of controversy and near misses for the English national side.

It got so much for some fans that an insurance firm once covered a football fan from the “severe trauma” that would have been caused if England’s national side, then managed by Sven Goron Eriksen, were knocked out early.

Thankfully for the loss adjuster, England reached the quarter-finals and no trauma was claimed for.

 

The Lloyds Of London Pro Wrestling Tag Team

Lloyd’s Of London, an insurance and reinsurance market that is based in London, has had a range of unique insurance policies, including kidnap and random, protecting against audiences dying of laughter at a comedy show, and all sorts of body part insurance policies.

One of the most infamous of these, however, is that Lloyd’s at one point used to insure the bodies of professional wrestlers and pay out if a wrestler was permanently disabled and was forced to retire early.

However, so many of the wrestlers who took this policy, including Ric Flair, Bret Hart, the Road Warriors and “Mr Perfect” Curt Hennig would return to the ring, which caused Lloyd’s to tighten up their policies before refusing to insure pro wrestlers entirely in 2017.

Top Tips To Save Money On Fleet Insurance

Top Tips To Save Money On Fleet Insurance

Buying effective, affordable motor fleet insurance can at times be a complex balancing act. You need to ensure that costs are kept to an acceptable level, but at the same time ensure that the needs of your drivers, vehicles and business are all met.

 

The good news about fleet insurance is that because it is all in one place, you do not need to deal with several different providers or policies if you want to make a change, and thus the savings can often be magnified.

 

As well as this, there are a growing number of ways that businesses can use to help reduce their premiums each month. Here are some of the most effective ways to save money on your premiums in the new year.

Install A Black Box

 

A recent trend in domestic car insurance, especially for younger drivers, a telematics device (known as a black box), as well as a vehicle tracker can not only be important safety and security features but also help seriously reduce premiums.

 

They allow for a more detailed analysis of how fleet drivers take care of their vehicles and help to ensure premiums stay low. Dashboard cameras can work as well to check driving etiquette.

 

Install An Immobiliser

 

Aside from driving behaviour, the nature of a particular fleet business can also increase premiums, particularly if your business is responsible for expensive cargo or equipment that is at risk of robbery.

 

Adding an immobiliser and alarm to a van will help provide that vital deterrent that stops thieves from taking a risk to steal.

 

Know What Options To Take

 

Part of what makes insurance so expensive is the extra coverage offered by providers. Some of these can be essential depending on the type of business you run, but in other cases can be an unnecessary expense.

 

Misfuelling cover, for example, may not be necessary if the fleet is only refuelled at their headquarters, and windscreen replacement cover may over the long term be more expensive than paying to repair the window through a third party.

Have You Heard Of The SIA Grant For Good Causes?

Have You Heard Of The SIA Grant For Good Causes?

Those working in the security industry may be interested to find out more about the Security Industry Authority (SIA) grant for good causes, which was set up last year to distribute money recovered through the proceeds of crime confiscation orders.

Under the Proceeds of Crime Act, the SIA is allowed to investigate the financial activity of those who have committed criminal offences and confiscate the proceeds of that crime, with the individual paying back any money made through their criminal acts.

The portion of this money that is received by the SIA can only be used to fund financial investigation capabilities or distributed to good causes.

Some of the money supports good causes that benefit the private security industry and applications for funding are considered by a grants committee at least once a year, more if the funds allow.

In 2020, the Worshipful Company of Security Professionals decided to take action and support those affected by the pandemic, with a crisis fund set up for security operatives, the police, the armed forces and emergency services.

The fund offers grants of £500 for the family of someone who has died of covid and £250 for someone hospitalised as a result of the virus. People are able to apply for themselves, while businesses are able to apply on behalf of their staff members, with funds then paid directly to the employee.

Chair of the organisation Claire Palmer said: “Research conducted early in the pandemic showed that those working in front line security had been particularly affected by COVID-19. We wanted to do something about that. Whilst the sum granted to individuals is relatively small, to those applying for the grants it is a vital form of support.”

In March 2021, £9,372.23 was diverted to the crisis fund by the grants for good causes scheme to help them support those in the industry during the pandemic.

Are you looking for security company insurance at the moment? Get in touch with Just Quote Me today!

Do You Need An SIA Licence?

Do You Need An SIA Licence?

Anyone with ambitions to work as a security operative in the UK would be advised to see whether they need an Security Industry Authority (SIA) licence and, if so, what kind of licence is required for the work in question. Operating in the private security industry without a licence could be illegal.

For example, if the work you intend to do involves a licensable activity and is part of a contract for services, you will need a front line SIA licence. Licensed activities include the likes of manned guarding, key holding and vehicle immobilisation (in Northern Ireland only).

If you are going to be working in-house, however, you do not typically need a licence, as you will be employed directly by the company that’s using your services. That being said, there are two licensable activities where a licence is required – door supervision at a licensed premises and vehicle immobilising (in Northern Ireland only).

There are also some situations where a licence is not required. For example, you don’t need a licence to volunteer as long as there’s a written or spoken agreement that you won’t be rewarded for your work. 

You also don’t need one if you’re performing stewarding duties or to check if people have paid for entry to an event or that they’ve been invited. In order to refuse them entry or make them leave, a licence is required, however.

There are two types of SIA licence – front line and non-front line. A front line licence is required if you personally perform a licensable front line activity as part of the job role. These usually come as a plastic photocard that must be worn while working. The key holding licence, however, comes in the form of a letter.

A non-front line is required if you manage or employ anyone who performs licensable activities as part of their job, or if you’re a company director or partner where others in that company or firm perform licensable activities for their job.

Looking for security company insurance? Get in touch with Just Quote Me today.

Tradesman’s Tools Stolen From Van As He Worked On House

Tradesman’s Tools Stolen From Van As He Worked On House

A tradesman lost an ‘extensive’ amount of tools from his van as it was parked outside a house in Uttoxeter, Staffordshire Live reports. The thieves pulled up in broad daylight behind the van, which was parked in a residential area of the town. The tools were quickly transferred to a white Ford Transit van, which drove off before the theft was noticed.

Fortunately CCTV footage has been obtained, which has provided vital evidence to help the police track down the criminals.

PCSO Sean Elliott, of Uttoxeter Rural, said: “It is a timely reminder to keep your vehicles secure at all times, even when working at a location. Opportunist thieves will quickly take advantage. With good information coming in from the local residents, and enquiries going well, the police, alongside the communities which they work, can often bring good results.

According to Security News Desk, only 1% of stolen tools are recovered. Furthermore, in London last year, £17.5m worth of tools were stolen, which amounts to £57,000 worth every day. For tradespeople, who are often self-employed, the thefts lead to loss of work and income, and cause extra stress and anxiety.

For those with adequate insurance cover, it is a case of going through the necessary paperwork to claim the cost of replacing the tools. If the tools were not adequately insured, or sufficient security methods weren’t followed, then some tradespeople may not be able to afford to replace the tools, and never recover financially from the loss.

To reduce the chance of theft, police advise people not to store tools in their van overnight. If it is unavoidable to leave tools in the van, the advice is to park in a busy area, preferably one that is monitored by CCTV. Vehicles should be alarmed, and tools kept in lockable interior cabinets, which if possible should be bolted or locked to the floor.

For Staffordshire business insurance, talk to us today.