When the editors at Rough Notes Magazine wanted to offer advice to agents who need a market for Security Guards, they knew whom to call.
As the leading MGA writer of Security Guard, Private Investigation, Intelligence, Electronic Security, Alarm and Background Screening Insurance, The Mechanic Group understands this market.
Marc Katz, Principal of the Open Brokerage Wholesale Division, offered guidance on a variety of important issues to agents:
Contracts
“It is very easy for security providers to be drawn into just about any kind of litigation that occurs at a client location. To limit a security firm’s liability and avoid unnecessary litigation, it is critical to have a soundly written standard client contract along with stated post orders. “
“By helping security firms with contract management, an agent or broker can provide meaningful, added-value service. The Mechanic Group offers complimentary contract reviews for clients and prospects of its insured security firms.”
Rates
“The Mechanic Group is seeing an exposure basis increase for security firms and an uptick in rates. This is particularly true for what might be considered the more distressed risks.”
Risk Management
“While most insureds are primarily interested in price savings in their overall insurance, another way to provide value to an insured is through risk management consulting. There are many risk management and safety topics a broker or agent can address to help a security guard firm control its overall insurance costs.”
Embracing the Future
“With prices falling for high-end components, continuing technological advances and healthy profit margins, the electronic security industry has been a growing segment of the security industry. Real opportunity exists for forward-looking agents and brokers to service these companies.”
We deliver quick and reliable responses to quote requests, because we believe it should be simple for brokers to obtain quotations for their clients.