Studies show investing in security officers significantly reduces financial and legal costs. As well as, the benefit of a reputation free of negligent claims and the high cost of a risk mitigation professional.
The Latest Security Statistics Indicate How Security Officers Save Money
Retail plazas have security expectations of security patrols, CCTV and ample lighting. Unfortunately, they often lack patrol and have unmonitored parking lots. Which as lead up to $4.5 million in settlements.
Nightclubs and bars that lack trained security and CCTV, were understaffed and did not have proper training when it came to negligence. Resulting in a cost of over $1 million in verdicts.
Apartments complexes are presumed to have trained security, but are often understaffed. Leaving tenants vulnerable to criminal activity and vandalism. Which leads to legal consequences of over $1.5 million in settlements and fines.
Recent data shows that the addition of security guards has a significant reduction in in settlements, claims, and crimes. According to insurance underwrites, the latest trend shows those businesses that utilize professional security guards have fewer claims and less severe. This is especially the case in sectors that are considered to be high risk.
The professionalism and density of private security guards show a significant correlation with a a reduction in insurance claims, liability incidents, and legal costs.
“This cost-benefit estimate is derived from industry case studies and insurance modeling referenced in sectoral analyses of retail, commercial property, and liability risk. While there is no single, universal source for the “$1 saves $3–$6” ratio, similar returns on investment have been documented in adjacent domains such as workplace safety (U.S. Department of Energy, ASSE), disaster mitigation (National Institute of Building Sciences), and risk management. The Ligue’s estimate reflects a synthesis of empirical findings from insurance underwriting practices, legal verdicts, and operational audits across the U.S. and Europe.” Security Ligue, a non-profit that work to shape a better industry to forge a safer world.
