Private security firms will face a per-occurrence cap on general liability insurance claims

Plain-language summary · AI-assisted

Licensed private security and investigative business entities are currently required to carry at least $2,000,000 in general liability insurance. A future amendment will clarify that this $2,000,000 limit applies to all claims arising from the same occurrence, not separately to each individual claim within an incident. Businesses in this sector should review their existing insurance policies to confirm that their coverage meets the per-occurrence limit as worded after the change takes effect. Insurance brokers and underwriters serving this sector should also be aware of the clarified language when structuring or renewing policies.

Who this affects
licensed private security business entities · investigative services firms · insurance brokers serving the private security sector · insurance underwriters