Irving, Texas, Feb. 27, 2007 â€“ Security America Risk Retention Group (Security America) announced today that the insurance company has surpassed the 500th customer mark and is currently insuring more than 520 alarm dealer businesses.
Formed in 2003 by the National Burglar & Fire Alarm Association (NBFAA), Security America offers professional errors and omissions and general liability insurance specifically tailored to meet the needs of electronic life safety, security, and systems professionals throughout the country.
"We are delighted with the growth of Security America and the response we've received in the industry. And, as we celebrate our fourth year, we are excited to announce that all of our fourth-year policy holders renewing for the third consecutive time are saving even more money with an automatic seven percent discount," said Cecil Hogan, president of Security America.
NBFAA offers the unique Security America program as part of the association's member benefits package. "This is a great program that demonstrates NBFAA's dedication to providing quality, affordable business solutions to our members. As a business owner who has saved money with Security America, I can testify to the substantial benefits," said NBFAA President George Gunning.
Since the start of the program, Security America RRG has provided direct coverage of up to $1 million. In addition, its policyholders may obtain excess insurance coverage up to $5 million. Domiciled in Vermont, which regulates more RRGs than any other state, Security America is registered in 49 U.S. states and the District of Columbia.
Security America was founded by NBFAA in response to the increasing difficulty member companies were having obtaining quality and affordable insurance coverage.
In January 2005, Security America partnered with Beecher Carlson, a 27-year veteran of risk management consulting services to handle the underwriting and marketing functions of the Security America program. Beecher Carlson works cooperatively with local brokers allowing members to maintain established relationships with their current broker and obtain coverage under Security America.