LEARN MORE
Why Business Crime Insurance?
Businesses are vulnerable to various threats of crime including property damage and loss, fraud, alteration, forgery, embezzlement and theft to the more sophisticated computer and online schemes which can lead to heavy losses.
Businesses that hire part time employees, engage in cash transactions, manage inventory, and have expensive equipment in the office are even more exposed. At the most basic level, crime insurance typically covers dishonest acts like petty theft and fraud committed by staff, volunteers or contractors, property damage, and burglary.
As the digital world evolves, so is crime insurance. Now crime insurance can also cover digital crime, including theft of business information, money or property by hackers or third parties. This often includes acts of forgery, and any instances of counterfeiting and impersonation that can do harm to your business.
Business crime insurance provides protection from financial losses related to business-related crime, including theft by employees, forgery, robbery, and electronic crime such as funds transfer fraud.
WHAT YOU NEED TO KNOW
Burglary Insurance
This policy provides indemnity against loss or damage to property following forcible or violent entry or exit from insured premises. The policy compensates for the insured’s property stolen from their business premises. There must be a forcible entry into or exit from the premises for this policy to offer compensation, meaning that the premises must be broken into or someone forcefully finding their way out. It also covers the costs of repairing damages to the premises in the course of the theft.
Money Insurance
Money insurance provides cover against loss of money in transit or in premises including damage to safes or strong room caused by theft or any attempted theft. The term Money means and includes cash and/or any other financial instrument that is easily convertible into cash. Additional extensions to the cover include riots and strike and personal accident/assault.
Fidelity Guarantee Insurance
Fidelity Guarantee insurance is an insurance policy designed to cover the employer against the loss of money, stock or property up to the maximum limit selected for insurance per employee which might result from acts of dishonesty or fraud by an employee in the course of employment. Cover can be arranged for named positions or on all employees of the insured.
Commercial Crime Insurance
Commercial Crime Insurance protects your business from losses due to crime-related issues such as petty theft, fraud, embezzlement, forgery, internet or cyber fraud, funds transfer fraud, counterfeiting and more committed by both your employees and outside entities. The policy is ideal for large businesses with sizeable asset bases.