Michael Keegan, vice president of Magnasphere Corporation, was chosen as the new president for Security America Risk Retention Group (SARRG), a business insurance program tailored specifically to the electronic security industry. Keegan, who is a security professional with more than 27 years of experience, takes the reins from Cecil Hogan, president of Security Consultants, who has served as SARRG president for the past eight years.
SARRG was formed by the Electronic Security Association (ESA) in 2003 as a way to offer affordable and stable insurance — including general liability and Errors and Omissions — specifically for companies in the electronic security industry. As a “risk retention group,” it is owned collectively by policyholder member companies, all from the same industry. ESA, which is the industry’s leading membership association, is the largest shareholder in SARRG.
Keegan said that his security industry background, along with extensive experience as an ESA volunteer and SARRG board member, will enable him to get a running start in his new position.
“I will continue to work with state associations so that members realize the benefits of our insurance program, and work hard to meet their needs and expectations,” he said. “My goal is to provide the same kind of leadership, because that’s what has made SARRG such a success. Most importantly, I’m hopeful that my tenure will be looked upon as a period of increased shareholder equity and growth.”