Commercial Crime Insurance is a policy to protect businesses from financial losses caused by criminal activities and dishonest acts. It covers acts such as theft, fraud, embezzlement, forgery, and other unlawful actions committed by employees or third parties.
Commercial Crime Insurance encompasses several critical coverage areas, including:
Employee Dishonesty: Protection against losses resulting from fraudulent or dishonest actions by employees, such as theft or embezzlement.
Forgery or Alteration: Coverage for losses due to forged or altered documents such as checks or financial documents.
Computer and Funds Transfer Fraud: Safeguarding against losses related to cybercrimes, such as hacking, electronic funds transfers, or phishing schemes.
Theft of Money and Securities: Insurance for the theft of money, securities or valuable assets.
Robbery or Burglary: Coverage for losses incurred during robberies or burglaries.
Extortion or Ransom: Some policies may include protection against extortion or ransom demands against the business or its employees.
Commercial Crime Insurance typically does not include coverage for legal expenses in the event of a lawsuit. Commercial Crime Insurance is primarily designed to protect businesses from financial losses resulting from criminal activities, such as theft, fraud, embezzlement and other dishonest acts. It focuses on reimbursing.....Read More
Commercial Crime Insurance differs from other business insurance types in terms of its coverage areas. Commercial Crime Insurance is specifically designed to protect businesses from financial losses resulting from criminal activities and dishonest acts.....Read More