Risk & Compliance
Our Purpose:
The Risk Management, Insruance and Compliance team is here to provide protection for the comapny’s property, cash and human assets.
Our Role:
Insurance
The insurance department provides over 65 years of experience in the Commercial Insurance Marketplace which includes insurance policy placement, claims management and risk management consulting. Signal has the following coverages available or coming soon to our franchise owners.
Master Commercial General Liability and Umbrella Policies: These policies are currently available and offer up to $7 million in general liability and professional liability coverages. Over 99% of the franchise group is enrolled with this program.
Master Commercial Auto Coverage: This policy offers $1M of auto coverage including Auto Physical Damage and Liability. We have over 600 vehicles covered on the program.
Master Commercial Workers’ Compensation Policy? This policy will be coming out in February 2024.
Signal Master Policy
Master Policy advantages include:
Cashflow: you do not have to pay the full premium cost at the beginning of the policy. you are billed monthly on that month’s exposure (i.e., realized payroll for GL and Workers’ Compensation and actual vehicle for auto).
Claims handling: We have “unbundled” the claims handling away from the insurance carriers and they are now handled at the home office and Broadspire, our 3rd party claims adjusters.
Certificates of insurance and Auto ID cards: the home office has partnered with Aon to provide these for you and can help you with rush or complex COIs.
Risk Management Consulting
Many franchise owners will have other policies and claims that do not fall into the master programs. Our team can help you manage those policies and claims on a consulting basis at no charge. If you have a General Liability, Auto or Workers’ Compensation policy and want to do an “apples-to-apples” comparison with the master programs, we can provide that analysis for you. In addition, we are happy to provide contract review and loss control procedures and consulting.
Complaint Portal
The Compliance department also provides a Complaint Portal that receives calls and emails from customers, employees, and former employees regarding your franchise operations. These calls are logged in the portal and franchise owners are notified via email of the complaint for your review and appropriate action.
Compliance
Our Compliance Department’s role is to make sure that all our Franchise Owners are not only staying compliant with federal, state and local licensing requirements, but to also make sure you are compliant with the Franchise Agreement. Running a business is tough and many times licensing and other compliance requirements tend to fall through the cracks. Some of the items we can help you with are:
Entity registration with the Secretary of State
DBA (aka “Assumed” or “Fictitious” Name) registration process
Private Security Company Licensing Regulations, qualifying experience requirements
Uniforms and Vehicle marking requirements
Private Security Guard Card Compliance
Renewals, Expansions or Reallocations of territory in connection with your Franchise Agreement
Consent to Transfer ownership percentage should you add a franchise partner, change your entity, or sell your franchise
Provide Asset Purchase Agreement templates should you want to sell your franchise
