Security Company Insurance – Who Needs it and What Does it Cover?

Security Company Insurance – Who Needs it and What Does it Cover?

In the world of business, insurance plays a vital role in safeguarding against unforeseen challenges and potential losses. For certain sectors, like the security industry, having the right insurance coverage is not just advisable—it’s essential. Security companies hold a significant responsibility for safeguarding valuable assets, and a single claim can have devastating consequences without the right protection. That’s where security company insurance comes into play. (more…)

Why You May Require Security Insurance for Your Business

Why You May Require Security Insurance for Your Business

As a business owner, it is essential to be aware of the potential risks that your company may face. Cyber-attacks, theft, and other criminal activities can all result in significant losses, both financially and in terms of reputation. While you may have taken measures to prevent such incidents, it’s important to consider whether you need security insurance to protect your business against the impact of such risks. (more…)

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 security firms who provide door supervisors, stewards and event management. We provide 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.

Get your FREE Security Insurance Quote Today

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.
  • This field is for validation purposes and should be left unchanged.

Security Insurance 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

Can We Help?

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...
Cyber Insurance – Why Your Business Needs It in 2023

Cyber Insurance – Why Your Business Needs It in 2023

In the ever-evolving landscape of the digital age, the importance of cybersecurity has never been more pronounced. As businesses continue to rely on technology for their day-to-day operations, they also become increasingly vulnerable to cyber threats. While the term “cyber attack” might conjure images of multinational corporations falling victim to highly sophisticated hackers, the reality is that businesses of all sizes are at risk. In 2023, it’s imperative that small and medium-sized enterprises (SMEs) recognise the importance of cyber insurance to safeguard their operations. (more…)

Your Business Cannot Work Without Insurance | Just Quote Me

Your Business Cannot Work Without Insurance | Just Quote Me

With a cost of living crisis and an economic recession looming large in the minds of many business owners regardless of size and industry, many financial officers, accountants and CEOs are looking at ways they can reduce their outgoings.

As each company is different, the types of cost reductions vary as well, particularly with many industries facing a somewhat uncertain future, and some companies are looking through every expense with a fine tooth comb to see what they can function without.

(more…)

Why You Should Make Cyber Insurance A Priority This Year

Why You Should Make Cyber Insurance A Priority This Year

Companies hoping to see the year out without any disasters might want to prioritise protecting their data, as online crime continues to be a growing problem among businesses. 

The National Cyber Security Centre (NCSC) recently revealed there were as many as 6.4 million reports received by the Suspicious Email Reporting Services (SERS) in 2022, resulting in 67,300 bogus URLS being removed. 

Since its launch in 2020, it has dealt with 15.8 million reports and taken down nearly 200,000 sites. 

NCSC deputy director for economy and society resilience Sarah Lyons said cyber criminals are becoming better at making their scams more convincing. 

By shining a light on these scams we want to help people more easily spot the common tricks fraudsters use, so that ultimately they can stay safer online,” she stated. 

It has advised companies to protect their data as much as possible by implementing a two-step verification procedure. Staff should also use ‘three random words’ for their passwords, as this makes it harder for cyber criminals to hack into their accounts. 

NCSC also suggested employees avoid creating passwords that can be easily cracked, such as from significant dates, favourite sports team or book, or family or pet names.

‘Three random words’, however, makes passwords “that are ‘long enough’ and ‘strong enough’ for most purposes but which can also be remembered much more easily”. 

It is also important to protect yourself by taking out the right cover. Speak to our business insurance experts in Staffordshire for more advice on what protection you need for your enterprise.