A Licensed, Bonded, and Insured Security Services Company: Why It Matters

When you sign up with a security firm, you’re hiring them to safeguard your people, your property and your reputation. While everyone is interested in how much it costs and how available it is, credentials of the guards are also important. A licensed, bonded and insured company has complied with legal requirements, legally protects its honesty with the backing of financial security, and is on the side of the person whose work doesn’t work out the way they planned.

In this article, we will discuss what each of those three terms is, what they mean and how they can be confirmed as a security provider has them.

What Does “Licensed” Mean?

A security firm is a legally licensed business that performs security tasks in its province. Security companies and guards in British Columbia are subject to provincial security laws and regulations, which require them to be licensed. Guards also must undergo certain training before they can work on a site.

Licensing matters because it shows:

• The company has undergone a review and been approved to run.
• Guards have been trained and screened as required.
• The business is accountable to a regulator if standards aren’t met.

An unlicensed provider might appear to be a more cost-effective option, but might result in unskilled employees and no chance to return to the business if something goes wrong.

What Does “Bonded” Mean?

A bonded security company has a bond in place that protects their clients from financial loss should their employee steal, cheat or engage in some other form of dishonesty. A bond can also help cover losses if a guard is dishonest or takes money from his/her client.

Bonding is particularly important when guards have access to:

• Can be considered stockrooms, warehouses or cash handling areas.
• Access codes and alarm codes, along with keys.
• Offices, hospitals, or other sensitive areas

However, for clients, bonding is an added sense of security. It demonstrates that the company values the integrity of its employees.

What Does “Insured” Mean?

If an accident or incident does happen, insurance will make sure you are not financially exposed if a security team is on site. A well-done insured company should have liability coverage and workers’ compensation coverage on its guards.

If you don’t have it you might end up with:

• Injuries or property damage that stem from a guard’s actions.
• The legal fees and who’s fault is it.
• Any out-of-pocket expenses which should not have fallen on the individual’s shoulders.

With insurance, these risks remain in the hands of the security provider and should be there.

Why All Three Matter Together

Each credential covers a different kind of risk:

• Licensing demonstrates that the company is legal, and that their guards are trained.
• Bonding safeguards you against dishonesty.
• Insurance helps you cover for accidents and liabilities.

A company with one or two of these gaps is a company. Combined, you get professional standards, financial protection and peace of mind.

Benefits of Choosing a Licensed, Bonded, and Insured Security Company

Professional, trained guards. The licensed guards are familiar with the limits of legally justified force, de-escalation techniques and the proper documentation of conflicts.

Lower business risk. Bonding and insurance minimise your risk of loss to theft, injury claims or legal disagreements.

Improved business-customer and staff relationships. A site with qualified and responsible professionals makes people feel safer.

Compliance and credibility. Some property managers, contracts, and insurers will expect you to have your security provider credentialed.

How to Verify a Security Company’s Credentials

Don’t accept a company’s claims on their own. You can:You may check before you sign a contract:

• Request the company license, and ensure that it is up to date.
• Ask for and verify a certificate of insurance; verify coverage limits and dates.
• Inquire if the company is bonded and if so who is the surety provider?
• Ensure guards have their personal licences when performing their duties.
• Inquire about the company’s screening, training and supervising of its guards.

A good provider will not hesitate to share documents and answer these questions openly.

Security Services Across the Region

So which ever building you own, a retail, condos, event venue, or construction site, the same should be true regardless of location. Frontline Security Services offers licensed, bonded and insured security services to clients throughout BC, including security services in Cranbrook and security services in Golden, and they have trained guards who understand the needs of the local businesses and communities.

In summary

The choice of a security company is a trust value. A licensed, bonded and insured provider has demonstrated he is qualified, protected their clients from dishonesty and they are ready for surprises. That one combination makes you a safer bet and allows you to concentrate on running your business.

Get Professional Security You Can Trust

Searching for a security company that is fully licensed, bonded and insured? Call Frontline Security Services today to see how their security solutions can be customized to fit your business and home needs.