Surety Insurance for security companies
It insures legal and contractual compliance in the field of private security.
The Surety Insurance for Security Companies is a legal obligation that ensures compliance with regulations by security companies, providing a guarantee to the authorities.
This insurance is essential for all natural or legal persons operating as security companies. It acts as a guarantee before the competent authorities, ensuring that companies comply with their legal and contractual obligations in the private security sector.
Highlights
The surety insurance for security companies covers the obligations, penalties, and expenses arising from the breach of regulations. This includes the payment of fines imposed under the Private Security Regulation, ensuring that the company can operate with the peace of mind of being backed by insurance that meets all legal requirements.
Surety Insurance for security companies
How can we help you?
Contact your specialists for Surety Insurance for security companies
Frequently asked questions
How do I take it out?
To take out our bond insurance guarantees for security companies, it is essential to have the following documentation:
Questionnaire for application: A form that must be completed to initiate the insurance contracting process.
Professional liability policy: This policy must comply with current law, ensuring the necessary coverage for the risks associated with the activity.
Group accident policy: Mandatory by agreement, covers workplace accidents that may occur within the scope of the security company.
Who takes it out?
This insurance can be contracted by:
Private Individuals: Natural or legal persons who provide surveillance and security services for people or property. These activities are considered complementary and subordinate to public safety.
When is it taken out?
The surety insurance for security companies is contracted at the request of the Ministerio del Interior to authorize the start of the activity. It is regulated by Royal Decree-law 8/2007, of September 14, and previously by Law 23/1992. Additionally, Law 5/2014, of April 4, in its article 19, establishes the specific conditions for its contracting.
To Whom is it submitted?
This insurance must be submitted to the following official bodies:
Ministerio del Interior
Dirección General de la Policía
Comisaría General de Seguridad Ciudadana
These bodies are responsible for supervising and authorizing the activities of security companies in the national territory.
Applicable Legislation
The legal framework regulating the security bond for security companies includes:
Law 5/2014, of April 4, Article 19: It establishes the legal provisions for private security and the obligations of companies in the sector.
Royal Decree-Law 8/2007, of September 14: It amends certain articles of Law 23/1992, of July 30, on Private Security, updating the applicable regulations.
R.D. 2364/1994, of December 9: It regulates the specific aspects of private security, providing clear guidelines for the operation of security companies.