B++ rating from A.M. Best earned for solid financial performance

The strength of insurance provider Security America Risk Retention Group (Security America RRG) was recently confirmed when the company was assigned a financial strength rating of B++ and a credit rating of “bbb” from credit ratings analyst A.M. Best Company.

An outlook of ‘stable’ was assigned to both ratings.  Security America RRG is the insurance company founded in 2003 by the Electronic Security Association (ESA) to provide its members affordable general liability/errors and omissions insurance coverage.

According to A.M. Best, the ratings are a reflection of Security America RRG’s good capitalization, experienced management team, and positive operating and profitability ratios. Security America RRG has met A.M. Best’s stringent requirements for early, rapid growth of premiums written. The ratings acknowledge the company’s ability to meet higher capitalization requirements.

While the program has been around for almost seven years, the rating is new. The Security America RRG board members have been working with A.M. Best to secure a rating due to the number of members that are sometimes required, by contract, to have coverage from a “rated” company.

“In order to maintain a long-time government contract, I needed an insurance company with a ‘B’ rating and was forced to leave Security America.  But now, with this even higher rating, I’m switching back before my renewal date. I’ve missed the excellent service and pricing that is the hallmark of Security America,” said Dan Budinoff, president of Security Specialists in Stamford, Conn.

“These are very strong results,” said Security America RRG President Cecil Hogan. “We are pleased that A.M. Best has recognized Security America’s secure financial position with a B++ rating.”

The Electronic Security Association (ESA), along with 60 other professional organizations, has called on Congress to find a solution for the rising cost of healthcare that doesn’t increase the cost of doing business.

As part of the Small Business Coalition for Affordable Healthcare, ESA is actively lobbying Congress to make smart decisions on healthcare reforms. A recent letter submitted to House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry Reid (D-Nev.) reaffirmed the coalition’s dedication to developing responsible solutions to curb healthcare costs and improve access. (Read the letter)

“As Congress reassesses its role in the healthcare reform discussion, we urge you to listen closely to the input of those on Main Street in towns and cities across the United States of America – our small businesses,” the letter states.

While ESA opposes the measures currently passed in the House and Senate, the association does support reform that improves access to quality, affordable healthcare including:

• New opportunities for small businesses to pool together and purchase insurance across state lines
• Balanced and responsible insurance market reforms
• Streamlined benefit packages
• Much-needed choices like SIMPLE cafeteria plans
• Tax equity for the nation’s self-employed
• Meaningful liability reform

However, these reforms should not include new taxes on small business health insurance, employer mandates, union and big business exemptions, increases in Medicare payroll taxes, more paperwork and costs for small businesses, new taxes specifically targeted at the small business community and prohibitions that limit employer and employee flexibility and choice.

ESA urges members to contact their elected officials and tell them healthcare reform should not come at the expense of America’s small business owners.

Are you taking advantage of these cost savings? NBFAA provides you with money-saving opportunities as part of your membership. Go to the Web site often and check out the coupon savings and our member discount programs. If you’re not using these companies, you might be leaving money on the table.

Members, get your discount codes here.

Security America Offers Affordable E&O Insurance Exclusively to Members
Reduce your premiums by purchasing your general liability/errors and omissions insurance through Security America Risk Retention Group. Security America’s coverage is specifically tailored to meet the needs of electronic life safety, security and systems professionals.

Members can receive direct coverage up to $1 million; excess insurance coverage up to $5 million and an umbrella policy with up to $5 million over primary coverage.
Join other NBFAA member companies that have saved thousands of dollars on their annual premiums by taking advantage of this member exclusive benefit.

Here’s what a recent customer had to say about Security America’s service:
“Thanks for your help. You were so quick in sending this to me. That’s why we like doing business with your company. Wonderful customer service.”
– Agnes Morrow, Office Manager, Securi-Com, Broadview Heights, Ohio

To get a free quote from Security America, call (866) 315-3838 or visit www.securityamericarrg.com.

A Firecracker of Deal
July started with a big bang and now you can get an even bigger bang for your buck by posting open job positions on the Security Industry Recruiting Center Web site. At only $100 for a 60-day posting**, it’s a fraction of the cost of other employment Web sites.

Created specifically for the security industry, the Security Industry Recruiting Center allows you to post available career opportunities or review resumes of new recruits. And this month, you’ll receive an additional 50% off one job posting!*

That’s a firecracker of a deal! For information, contact Tonja Jenkins at tonjaj@alarm.org or call (888) 447-1689.

** NBFAA member pricing.
*One per company. Enter coupon code 48318176 on the job posting review page.

Security America Risk Retention Group (Security America) has reached a milestone. From its beginning in 2003, SARRG now has more than 700 policyholders. These policyholders changed to Security America because, with Security America, they’re saving money on their insurance.

Read what Mark Lagarde, president of the Louisiana Life Safety & Security Association, has to say:

“We had been using the same insurance agent since 1990. Over the years, it’s easy to develop a sense of apathy and just pay the bills. It wasn’t until one of our board meetings that I heard about the savings some of our companies were enjoying with Security America but I still didn’t look into it.

After the January 2008 NBFAA Leadership Summit, I started thinking about Security America again. In September, I called for a quote. Within 24 hours, I not only had a quote but a very pleasant surprise. My insurance premium has dropped in price and increased in coverage. To put it in numbers, my premium went from $24,000 a year to $9,000. At our LLSSA regional and state meeting and trade show I tell this story. I hope others will follow me and use this fantastic member benefit.”

Why are you waiting to save money? A free quote is easy, requires very little time investment and could open your eyes to how much money you’re wasting on insurance.

Ask for a free quote and see how much you can save. Go to www.SecurityAmericaRRG.com and request your quote today.