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.
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.
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.
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.
Commercial crime insurance, also known as Business Crime Insurance, is a liability insurance policy designed to protect your business through a lot of business-related crimes such as fraud, forgery, theft, burglary, etc. both by the staff or any external miscreant. The protection under a commercial crime insurance policy can cover for cash, assets, merchandise or other property loss occurring under a business-crime on the company.
A commercial crime insurance is a simple insurance that covers for a larger risk of theft and manipulation for your business.
Below is a list of businesses for which commercial crime insurance is most relevant:
A. Businesses exposed to the risk of physical theft
B. Businesses exposed to risk of digital theft and manipulation
Commercial crime insurance policy can be customized depending upon the need of the organization. While the basic construct remains the same, the ad-ons and extensions can be tailor-made.
Commercial crime insurance policy comes with a variety of coverage against fraud and con-artists. Below is a list:
Note: This is not an exhaustive list. Details of all the inclusions will be part of the policy copy.
Below is the list of exclusions under a commercial crime policy:
Note:This is not an exhaustive list. Details of all the exclusions will be part of the policy copy.
Cost of commercial crime insurance depends on the type of business risks to be covered and the crime coverage amount. Some of the common risk metrics are:
Established security and control systems of the organization
Commercial crime insurance policy is a very personalized insurance that is designed based on your requirement depending on the nature of the business and the risks involved. SecureNow understands your needs and that is the reason we have tie-ups with insurance providers that can provide the best crime insurance with maximum coverage against fraudulent activities that can tarnish your business’ reputation and financial conditions.
Below is a list of documents that have to be provided while filing a claim for crime insurance coverage:
Filing a claim procedure for commercial crime insurance is now easy. You have to fill a duly filled and signed claim form available with your insurer. Then with required supporting documents, as mentioned in the question above, apply for the claim within your sum assured.
We have specialized underwriters and tie-ups with international experts.
We work with all insurers to get you the best options- both in terms of price and features.
Cover notes are issued within hours of request. This documentation is sufficient for any contractual requirement.
We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.
We will advice you on risk management best practices.
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