Commercial Crime Insurance – Types of Crime Insurance Policy, Coverages
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Advantages of Commercial Crime Insurance

Employee Fidelity Cover

Commercial Crime insurance protects the business against the claims arising due to employee fidelity or dishonesty. For instance, the company will be covered if any of its employees steals cash from the office.

Blanket Policy

Commercial Crime policy offers coverage for all full-time and part-time employees. It also covers contractual workers and volunteers who may be vulnerable to fraud, dishonesty or theft.

Transit Cover

Losses sustained due to destruction, theft or wrongful abstraction of money and securities outside your business premises by a third party are covered by Commercial Crime Liability insurance.

Affordable Cost

Commercial Crime insurance provides coverage for a wide range of business risks at a very cost-effective price. There is also an option to include extensions to your policy to enhance your coverage.

Benefits of Commercial Crime Insurance

Wide Range of Risk Covered

  • Commercial Crime liability policy provides a wide range of coverage by protecting your business from employee dishonesty, fraud, theft, burglary, cyber fraud, robbery, forgery and losses due to these activities.
  • Financial Losses to business due to third-party fraud is also covered under this insurance.
  • The policy will also pay for the loss of money and securities in transit outside the insured's premises.

Additional Extensions Available

  • Commercial Crime insurance comes with many add-ons like computer fraud cover, in-transit cash and valuables cover, and coverage for client's expectation damages, which can be included by paying an extra premium.
  • The policy can also be extended to cover any financial loss due to cybercriminal activities committed by an employee.
  • Coverage of additional items such as expense for additional workforce, transportation of documents, rent of temporary premises and offices can be introduced.

All Legal Costs Covered

  • A Commercial Crime Liability policy indemnifies you from all investigation costs and other legal costs incurred due to loss from an employee or third party, hence protecting your business financially.
  • An expense incurred due to computer violation is also taken care of by the policy.
  • Crime losses not only cost you money but also precious time. This policy will help you focus these resources for growing your business.

Frequently Asked Questions

Commercial Crime insurance provides comprehensive protection to businesses against theft, damage to the company's property, robbery, burglary within office premises, and fraudulent activities by the employees, part-time employees or contract workers. Computer fraud done to steal funds and securities is also covered by the policy.
Forgery cover implies that the policy will protect you in case your employee or a third party imitates any person's or authority's signature, or misuses a document or any other data in order to perform fraud or with the intent to steal. For instance, loss to the business due to cheques fraudulently drawn from your company's account can be covered under Commercial Crime policy.
In insured's legal liability coverage of Commercial Crime insurance, insurance will pay for all the financial losses resulting due to the claim made by the client for legal liability which may directly be resulted from criminal activities performed internally or externally which came across during the discovery period. This coverage is subject to some sublimit which is mentioned in the policy.
Losses due to war, strike, riots and terrorism are not covered under the policy. Consequential losses, credit risks, extortion, ransom, fines and penalties are also excluded from the policy. Some general exclusions in the policy include loss due to fire, wilful or deliberate acts resulting in claim, violent crime by any employee or organisation itself and fraud by the insured's partner.


What is the Importance of a Commercial Crime Insurance Policy?

A Commercial Crime insurance plays an important role in the smooth functioning of business by covering its various assets against a series of acts of dishonesty, theft or fraud of the employee and third-parties. No matter how trustworthy your employees are (or seem to be), it’s more the senior staff and your most reliable workers who are involved in fraudulent activities...
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What Is the Application Of Commercial Crime Insurance?

Commercial Crime insurance policy covers losses to a business organization due to criminal activities. These activities include employee dishonesty, theft, embezzlement, fraudulent fund transfers, computer fraud, and forgery. An insured can protect his business with the help of a Commercial Crime insurance policy through the following ways...
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What are the additional costs under Commercial Crime insurance?

A Commercial Crime insurance policy provides different kinds of protections against Commercial Crimes like employee dishonesty, forgery or alteration coverage, computer fraud, funds transfer fraud coverage etc. This policy protects a business owner or an employer against any such dishonest acts.

In the event of any such Commercial Crime...

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