Program History

Witnessing the Birth of a Notion

Representatives of NBFAA and Marsh Insurance meet with the Vermont Department of Banking Insurance and Securities to discuss the Security America Risk Retention Group. Pictured, from left, are: Vermont Deputy Commissioner of Captive Insurance Leonard Crouse, NBFAA Executive Director Merlin Guilbeau, and Marsh Management Services Senior Vice President Edward Precourt.

Months of research = 24
Calls and meetings = 100+
Hours of labor = 1,000+
Revolutionizing the way NBFAA members are insured = Priceless

After two years of exhaustive effort, immeasurable dedication, and perseverance, the quest for a program that will benefit NBFAA members and completely transform the way the industry is insured has become a reality. Through a combined endeavor between NBFAA and Marsh Insurance, NBFAA can now offer general liability and errors & omission policies to its members through the Security America Risk Retention Group (RRG) program.

"After an extensive and painstaking process, we can finally see the proverbial 'light at the end of the tunnel,'" said NBFAA Executive Director Merlin Guilbeau. "And that light will dawn a new day on the industry, delivering a competitively priced insurance policy that will meet the needs of NBFAA member companies."

The further constricting of the insurance market for NBFAA members led the association and Marsh Insurance to combine their efforts in 2001 with the goal of creating an RRG program. After two years of extensive research, study, and development, Security America RRG was formed. Vermont, which governs more RRGs than any other state, is the domicile state for the NBFAA RRG venture.

Guilbeau is enthusiastic about the development of the Security America RRG program. "Over the past two years, Marsh and NBFAA have expended thousands of hours to reach this point in the process. This work rate reinforces the commitment of the parties to this endeavor. Careful considerations have been made to ensure that the program is sound and feasible, the Security America RRG has stability and longevity, and NBFAA will be able to provide its members with a consistently affordable insurance product."

The Security America RRG is another example of NBFAA's strong commitment to its members. "To be able to offer this revolutionary insurance program is a tremendous benefit for our industry, and makes NBFAA membership that much more valuable for electronic life safety, security, and systems professionals throughout the nation," Guilbeau concluded.