Regulatory and Insurance
In addition to the thorough screening that is required of all potential applicants, each business is required by statute to be bonded. The bonding for Barr Detective Agency currently exceeds the state mandated minimum and is set at $10,000.00 a piece. Liability insurance is also easily obtainable and affordable for this business because of the low exposure to litigation in the industry. Them is one exception to this rule; however, and that is in loss prevention. Physically detaining shoplifters carries a high degree of risk and injury and lawsuits are more common in this one investigative service than in all others combined. Invasion of privacy lawsuits are minimal and are usually easily defeated if the investigator stays within prescribed guidelines The granting of weapons permits is a significant factor in driving up the costs of liability insurance cod should be avoided except for the most outstanding and reliable personnel in the organization. Even then, weapons training and restricted use will prevent a large number of liability problems down the road. Armed accounts only account for a small fraction of the investigative market and therefore should not be considered a significant weighting factor in terns of coverage.
Licensing and Market Exclusivity
Service Overview and Market Considerations
Strengths and Weaknesses of Service Offered
Notes on Financial Information Presented
