KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** comment on When is Workers Comp insurance not enough June 27, 2026 ************************* comment on When is Workers Comp insurance not enough from article on May 27, 2026 ************************* Ken Insurance can be frustrating when the carriers start pointing fingers and trying to get out of paying a claim. Ken mentioned it well relating to the work comp. There are so many policies that need to be in place to make sure you are covered for the uncertainty of an incident. Often times, dealers and integrators are not at fault when summoned with attorney papers, but still get brought into a lawsuit. It is important to talk with a broker that understands the security industry, so we can advise you of the exclusions of each type of policy. One policy is not enough any more with today's litigious society. You need a policy that will defend you and get you out of the lawsuit. Here are the types of policies each security dealer should have as each covers a different risk: General liability Professional liability (E&O) Work Comp Business Auto EPLI (employment practices liability) Cyber Excess The claim Ken mentioned relating to the injured fire fighter will be covered under your general liability and not your E&O. General liability covers "bodily injury and property damage" where your E&O or professional liability covers a "financial risk." the injured firefighter is a general liability exposure. In the security industry, it is preferred that your general and your professional liability coverages are on the same policy. It is important to know that they are two types of coverages and don't have to be on the same policy and that they are covered differently. Insurance can be confusing. Talk to an industry expert about all your insurance needs. Shawn Iverson, CIC The Insurance Center shawn@insurancecenterut.com www.TheInsuranceCenter.com 801 622 2626 ********************************* Response ********************************* Frustrating is one way to describe it. Insurance is essential when in business [and when you're not] and often required by law, so you have no choice whether you want to assume the risk without insurance protection. Some of the coverage that's required by law or typically required by those you do business with are: * vehicle [law] * workers compensation [law] * different levels of general liability and casualty with E&O and other specify coverage by contracts and sometime law for license * performance and payment bonds [by contract and sometimes municipal contracts] Other types of insurance may be optional and only becomes important when you need it; and it's too late to get it then, * life insurance * disability insurance * long term care * health insurance * officer and director insurance * cyber insurance * burial insurance * general liability and casualty, including E&O coverage. Insurance coverage can get expensive and a sizable chunk of your gross revenue. Once way to be able to afford this level of financial security is charge for your services enough so that you cover these expenses. That is of course a challenge with all the competition you face. The answer seems to be figuring out what level of risk you are willing to accept and assume, and what constraints you face in your business operation. Not all of these types of polices may be available from one insurance broker. Start with Shawn and see how it goes. ****************************** STANDARD FORMS Alarm / Security / Fire and related Agreements. click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
