Crime Insurance Cover

Even with strong internal controls and audits, crimes happen, and sometimes they happen at your business. Even the most vigilant companies have sustained significant losses. Whether it is from employees or outside criminals, it’s important to understand what your policies cover, and where you need additional crime insurance.

Businesses are vulnerable to various threats of crime including property damage and loss, fraud, alteration, forgery, embezzlement and theft which can lead to heavy losses.

What Does Crime Insurance Cover?

At the most basic level, crime insurance typically covers dishonest acts like petty theft and fraud committed by part-time staff, volunteers or contractors, property damage, and burglary.

As the digital world has evolved, so has crime insurance. Now crime insurance can also cover digital crime, including theft of business information, money or property by hackers or con artists. This often includes acts of forgery, and any instances of counterfeiting and impersonation that can do harm to your business.

Who Needs Crime Insurance?
We advise our clients to consider crime insurance because it’s a simple risk transfer mechanism for theft and manipulation. Businesses that hire part time employees, engage in cash transactions, manage inventory, and have expensive equipment in the office are more exposed to petty theft. Businesses that deal with customer data, digital transactions and sensitive financial records are more exposed to digital theft and manipulation.

Crime Insurance Costs
As with all other types of insurance, companies price fidelity bonds and related policies according to business risk and coverage amount. Some common risk metrics include number of employees, locations, revenue, office security, financial controls and presence of high value goods or items.

Types of Crime Insurances
The right crime policy can safeguard your business from the risk of corporate asset theft to more sophisticated computer and online schemes. Reach out to our team of experts on the following crime solutions;
- Burglary Insurance
- Money Insurance
- Fidelity Guarantee Insurance
- Commercial Crime Insurance

How do I start?
Hisbah Insurance will assess your needs and give you options. Give us a call or email us and one of our friendly staff will help you get the best cover at the right price.

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