Commercial Crime insurance, also called fidelity insurance, protects your company from fraud, theft and forgery. Whether you are a small or large business owner, a commercial crime policy can protect you against dishonest acts of your employees and allow you to focus your money on running your business. Some types of coverage are:
- Employee Theft
- This insuring agreement protects the named insured against “theft” of “money,” “securities” and “other property” committed by an employee (or employees). It is a blanket coverage that is applicable to all employees, whether or not identified by name or position.
- Forgery or Alteration
- Forgery is generating a document or signature that is not genuine. Alteration is changing a document in a manner that is neither authorized nor intended. This form insures against loss caused by the forgery or alteration of a covered item drawn against the insured’s accounts.
- Inside the Premises
- This insuring agreement protects the named insured against “theft,” disappearance and destruction of “money” and “securities” while located inside the insured’s premises or bank. Also, it can protect the named insured against loss to “other property” due to “robbery” of a custodian (someone having the custody of the property) and “safe burglary” inside the premises.
- Outside the Premises
- This insuring agreement protects the named insured against “theft,” disappearance and destruction of “money” and “securities” while in the custody of a messenger or an armored vehicle company away from the premises.
Our diverse portfolio of insurance products through a variety of insurance companies can provide coverage for this exposure.