What is Commercial Crime Insurance?

Today, companies face an enormous risk of inventory and financial loss resulting from crimes. Thieves and robbers can physically break into your property and steal goods and equipment needed to perform the services you do. You face situations where dishonest employees could potentially steal inventory. Or the possibility of white-collar crimes when disreputable financial professionals transfer funds out of your bank accounts.

Commercial crime insurance protects against financial losses that companies suffer because of criminal activity. These policies offer comprehensive coverage against many forms of crime, including theft, burglary, robbery, forgery, and fraud. It also reimburses assets, cash, merchandise, and other property. 

Commercial crime insurance offers substantial protection against property loss, liability, and other types of potential losses resulting from criminal activity. It can help business owners in the following situations:

  • Your business doesn’t have a sophisticated security system.
  • You are a small enterprise that engages in regular transactions using checks, cash, credit, or other electronic or money transactions.
  • You store valuable items in a safe or vault on your business premises.
  • Your enterprise has inventory or stock onsite that employees, thieves, or criminals could easily steal.
  • Your workers handle financial records and customer data.
  • Your employees have access to valuables, cash, goods, and equipment.
  • You hire part-time employees or volunteers.

Here are a few situations that your basic Commercial Crime Insurance coverage can insure against:

  • Employee theft coverage
  • Losses:
  • from forgery or alteration 
  • counterfeit money orders and currency 
  • money or securities outside the premises
  • Theft of securities and money inside your premises 

If you want to learn more about Commercial Crime Insurance, please give us a call at 954-239-7346.

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