The Electronic Security Association announced on Thursday that Magnasphere Corporation Vice President Michael Keegan has been chosen as the new president for Security America Risk Retention Group (SARRG), a provider of insurance for the security industry.
Keegan will succeed Cecil Hogan, president of Security Consultants, who has served as SARRG president for the past eight years.
"SARRG is an important ESA benefit that allows our insured companies to operate with confidence, knowing that SARRG will be there when they need it," Keegan said in a statement. "Having experience as the Class C shareholder representative on the board of directors and knowing how important the program is to our members has placed me in a position to serve our policyholders."
SARRG was formed by ESA in 2003 as a way to offer affordable and stable insurance – including general liability and errors and omissions – specifically for companies in the electronic security industry. As a “risk retention group,” it is owned collectively by policyholder member companies, all from the same industry. ESA is the largest shareholder in SARRG.
SARRG currently provides more than 800 policies for electronic security companies. For more information, visit www.securityamericarrg.com.