Crime Insurance Information
Commercial crime insurance is a crucial shield for businesses in the face of ever-evolving criminal threats. This invaluable form of insurance can protect against financial losses from an array of illicit activities, including employee dishonesty, fraud and theft.
What Is Commercial Crime Insurance?
Commercial crime insurance is insurance coverage designed to protect businesses from financial losses resulting from various criminal activities. This form of insurance can help safeguard a company’s assets and financial well-being by providing coverage for losses caused by crimes such as theft, fraud, embezzlement, forgery and employee dishonesty.
What Does Commercial Crime Insurance Cover?
Commercial crime insurance can typically include the following:
Employee dishonesty coverage can protect against financial losses caused by dishonest acts committed by employees, such as embezzlement, theft or fraud.
Forgery or alteration coverage can cover losses resulting from the forgery or alteration of checks, drafts, promissory notes or other financial instruments.
Computer fraud coverage can offer protection against losses caused by unauthorized access to computer systems, including electronic theft or manipulation of funds.
Funds transfer fraud coverage can protect against losses resulting from fraudulent electronic funds transfers or wire transfers initiated by unauthorized individuals.
Theft of money and securities can provide coverage for losses resulting from the theft of physical money, securities or other property.
Robbery or burglary can cover losses resulting from theft or damage to property due to robbery or burglary.
Client theft coverage can offer protection for losses caused by theft of a client’s property while in the care, custody or control of the insured business.
Who Needs Commercial Crime Insurance?
Commercial crime insurance is crucial for businesses of all sizes, as it helps mitigate the financial impact of criminal activities that may occur internally or externally. The specific coverage and limits can vary depending on the policy and the needs of the business. Businesses should carefully review and customize their commercial crime insurance policies to ensure they are adequately protected against potential risks.
Contact Insurance Agencies Inc. to discuss your business insurance needs. We can help determine if commercial crime insurance is right for your operations.