I am helping a friend of mine start a crime prevention consulting business after recently retiring from law enforcement. This is something he specialized in while a police officer and I (also a former police officer) have some experience in developing small businesses. The question I have, as we develop a solid business plan is what sort of benefits to insurance companies offer relating to crime prevention measures. Or are their resources to find out more on this?
Crime Prevention and Insurance?
You'll have to prove to insurance companies that this crime prevention program actually cuts down crimes. The problem is, it needs to be more widespread than just one city.
Reply:One of the most intelligent questions asked here.
I would look to the larger companies, such as Factory Mutual for large risk application, and to Chubbs for specialized premium reduction based on loss deterent applications. Normally, the mom and pop homeowners businesses are tied to trend analysis data, and will want to see a great deal of real backed up huristic data before they would consider. If you could get a foot in the door of the two mentioned above, you would be too busy to deal with homeowners anyway.
Resources: Claimspage.com is a good start, and will hopefully lead you in the right direction.
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