Top 5 Risks Commercial Crime Insurance Covers

Commercial crime has the awful power to completely devastate a business, in particular with companies of a smaller or medium size. Commercial crime insurance, like the proverbial superman, can quite literally save the day when it comes to criminal activities committed against your business. Running a risk management program is highly important in the maintenance and support of any company.

The Risks

While this type of insurance can cover a variety of different threats to a company, there are five particular threats which are important to cover.

  1. Employee Dishonesty – Damages can occur due to dishonest acts committed by employees of the company themselves. Usually insurance covers the theft of money as well as securities by employees and damage to business property.
  2. Computer Fraud – The fraudulent transfer of funds through the use of a computer is a common practice among technologically-savvy thieves.
  3. Forgery – Financial instruments including checks run the risk of being altered by thieves to be used as forgeries for illicit purposes.
  4. Money – Money and securities used specifically for the business, whether stolen from the business site, a personal home, or a bank, ought to be covered by a commercial crime insurance package.
  5. Client’s Property – Crime insurance should also cover client assets, including actual money, property, or securities on the business premises.

Having commercial crime insurance can lift an enormous weight off of business owners’ backs, keeping companies safely protected.

This post was written by , posted on December 23, 2015 Wednesday at 7:00 pm

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