Private security and surveillance companies in the Canary Islands need to have the best insurance protection against third-party claims. Canarisk designs the widest Civil Liability coverage for companies in the private security sector in the Canary Islands.
What is liability insurance?
Civil Liability insurance protects the company against claims for damages to third parties. The coverage of Civil Liability insurance is adapted to the needs and risks to which each company is exposed.
Is Civil Liability insurance mandatory for private security companies in the Canary Islands?
Law 5/2014 of April 4, establishes the obligation of Civil Liability insurance for private security companies, to provide coverage for damage caused to people or property during the operation of the activity.
What capital must be contracted in the Civil Responsibility insurance of security companies?
The amount may vary depending on the activity of the company. However, according to the private security collective agreement for 2022, a minimum capital of €154.490,25 must be contracted.
How much does civil liability insurance cost for private security companies in the Canary Islands?
The cost of liability insurance for private security and surveillance companies in the Canary Islands depends on many factors, such as revenue, number of employees, and the services the company offers. Contact our insurance brokers in Tenerife and Las Palmas , and they will advise you on how to get the best liability insurance for your company at the best price in the Canary Islands.
What other insurance does a private security company in the Canary Islands need?
In addition to mandatory public liability insurance, companies in the security and private surveillance sector need to take out collective bargaining agreement accident insurance for their employees, business insurance for alarm monitoring centers, warehouses, or facilities in general, and surety bonds. Our insurance brokers in the Canary Islands have experience in the sector and can advise you on the insurance you need to operate your business there.
What is surety insurance for security companies?
Security companies are required to provide a guarantee to begin operations. This guarantee can be in the form of a surety bond. The main advantage of a surety bond is that it is not listed in the CIRBE (Central Credit Register), which is essential if the company needs to apply for a loan. Contact our insurance brokerage in the Canary Islands for more information and advice on surety bonds for private security companies in Tenerife and Las Palmas.
