Your company faces many potentially costly risks from theft and vandalism to social engineering and employee fraud. Therefore, your insurance solution should be equally broad and flexible to provide the utmost protection. Talk to us to learn more about commercial crime insurance.
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Theft by Non-employees
Theft by Employees
Employee dishonesty coverage
Forgery
Computer fraud
Theft by non-employees coverage
Risk Factors
If money or assets are stolen from your premises or seem to disappear without a trace, your company could suffer a loss.
Solution
A crime insurance policy can offer protection for the same. Often, crime insurance also covers damage to your building or property that occurred as a result of the theft.
Embezzlement & theft by employees coverage
Risk Factors
Embezzlement can take many forms, from a cashier taking money from a register to an employee doctoring payroll and issuing pay cheques to staff members who don’t exist.
Solution
A crime insurance policy can also protect your company against embezzlement or theft by employees.
Employee dishonesty
Risk Factors
Employee dishonesty is a broad category that can include crimes such as forging checks or executives’ signatures or creating fake vendors and false invoices.
Solution
A crime insurance policy can protect your company against any kind of covered employee dishonesty.
Forgery coverage
Risk Factors
The business would suffer a great loss if someone forges your company’s checks or writes out fake promissory notes.
Solution
A crime insurance policy will cover any such associated losses. The policy might also cover the cost of legal fees if you need to go to court due to the forgery.
Computer fraud coverage
Risk Factors
Computer fraud can take many forms, such as someone impersonating a member of your executive team online or someone sending money from one bank account to another fraudulently using a computer or the internet.
Solution
A crime insurance policy can protect your company against any kind of covered computer fraud.
What is Crime insurance?
Business crime insurance sometimes referred to as commercial crime insurance, is a kind of insurance that a company can purchase to shield itself from damages brought on by business-related crime. For example, when someone commits fraud, embezzlement, forgery, misrepresentation, robbery, theft, or any other business-related crime against the firm, protection under the policy can cover cash, assets, merchandise, or other property damage.
What does Crime insurance cover?
Crime-related losses are not typically covered by commercial property insurance. So, you may want to consider what commercial crime insurance offers:
Employee dishonesty coverage
Forgery or alteration coverage
Theft of money and securities coverage
Burglary or robbery coverage
Computer fraud coverage
Why is Crime insurance important?
Commercial crime insurance protects assets from damages brought on by employee and third-party dishonesty, theft, or fraud. It applies to all offenders, whether they are full-time employees, interns, consultants, or independent contractors. Therefore, this plan helps you reduce risk, whether the crime is theft, fraud, fake, or forging.
However, crime and wrongdoings can never be predicted. Therefore, keeping yourself prepared for losses is the best thing to do. Insurance is typically made to offer such privilege. It helps us prepare for unforeseen health, home, or vehicle-related situations. Crime has many hues, from counterfeiting to theft to hacking. Everything can cause severe financial losses. Hence, Crime Insurance Policy safeguards your financial interests in any such events.
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Already have Crime Insurance? Switching is easy
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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