Crime Insurance

Crime insurance serves as a financial safeguard for businesses. Designed to protect organizations from financial losses resulting from criminal acts committed by employees, third parties, or other entities. These acts typically include theft, fraud, forgery, embezzlement, and other dishonest behaviours that lead to the loss of money, securities, or other valuable property.

While not a substitute for robust security measures, this cover serves as a vital safety net for unforeseen criminal activities that could otherwise jeopardize a company’s financial stability.

Crime Insurance

Who Needs Crime Insurance?

Crime insurance is essential for businesses and organizations of all sizes.

Industries that commonly purchase this cover include retail, manufacturing, financial services, non-profits, and professional services firms. Small businesses are particularly vulnerable, as a single incident of employee theft or fraud can have a devastating financial impact.

Types of Coverage

Crime policies typically offer a range of coverages to address different types of criminal activities. These coverages are often modular, allowing businesses to tailor policies to their specific needs. The most common types of coverage include:

  • Employee Theft or Dishonesty
  • Theft of Money and Securities
  • Forgery or Alteration
  • Computer and Funds Transfer Fraud
  • Money Orders and Counterfeit Money
  • Client Property Coverage (ins the Insureds custody, care and control)
  • Social Engineering Fraud