What Does Commercial Crime Insurance Cover?

What Does Commercial Crime Insurance Cover?

Insurance, Insurance Agency, Insurance Companies, Insurance Agency Marketing, Neilson Marketing, Professional Liability Insurance,

Employee crime and dishonesty can have a huge financial impact on any business.Crime coverage insurance can help protect your business from the financial repercussions of employee crime. Here are the top areas covered by most commercial crime insurance policies.

1. Employee Theft

Theft of professional property is more common than you would like to think, and crime coverage insurance can provide much-needed protection. Coverage will apply to any instance of covered property loss due to theft, as long as the perpetrator is an employee at the time of the theft, and up to 30 days after they are terminated from employment.

2. Money and Securities

If your company deals in securities or has a notable cash exposure, money and securities coverage can protect against losses due to disappearance, destruction or wrongful abstraction of securities or money. Outside coverage can also be obtained, which extends coverage to securities and money that are transported by an armored car or messenger.

3. Forgery or Alteration

Forgery or alteration coverage provides protection against employee forgery or alterations, including check forgery, promissory note alteration and other similar binding documents. If an employee signs a financial document using someone else’s name with the intent to deceive, they are committing forgery.

If you do not currently have adequate crime coverage insurance, now is the time to revisit your policy. Discuss your risks with your insurance agent and he or she will help you select the right policy for your needs.