Security Guard
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Q: What is the right amount of coverage for a security guard firm?
A: Have at least $1 million of coverage per occurrence and $3 million aggregate for general and professional liability. Increase this coverage if there’s more risk in company operations or contract requirements. Don’t accept a certificate for a master policy as adequate coverage. Your company should be the only one on the policy. Many contracts require a combined limit of general/professional liability and excess/umbrella combined limit from $5-$10 million. Check with your broker for contract requirements.

Q: What standard coverages should a security guard firm have?
A: A security guard firm should have the following standard coverages: Adequate limits of coverage. General and Professional coverage. No sub-limits on major coverage risks. No limitation of assault and battery to “reasonable force.” No exclusions for unlicensed guards. No exclusions for unlicensed firearms. Broad contractual coverage. Broad coverage for theft by 1st and 3rd Parties. No conviction or anti-collusion clauses on theft coverage. Vicarious liability coverage for intentional and criminal acts that protect the company. No exclusion for punitive damages. Sexual Harassment/Molestation/Discrimination coverage. Coverage for all property in the company’s care, custody, and control. Protection from third-party oversuit – where clients sue the guard company after an employee sues the client.