What happens if proof of insurance is not provided to BSIS within 30 days of notice?

When proof of insurance is not provided to the Bureau of Security and Investigative Services (BSIS) within the specified 30-day notice period, it results in an automatic suspension of the license. This is an important regulatory requirement meant to ensure that security businesses maintain appropriate insurance coverage as a safeguard for their operations and the public. Without adequate insurance, there is an increased risk for clients and the general public, leading to the necessity of maintaining strict compliance with insurance verification protocols.

Consequences such as extensions, fines, or no repercussions at all do not apply in this scenario. The strict enforcement of an immediate suspension serves to uphold standards of accountability and protection in the industry, reinforcing the necessity of timely compliance with insurance documentation requirements. Understanding this policy ensures that professionals within the field remain vigilant in maintaining their licenses, thus supporting the integrity of their business practice.