Commercial Crime

Let's explore the importance of commercial crime insurance, also known as fidelity insurance. You need this coverage to safeguard against financial damages your company could incur from unlawful acts.

This insurance covers losses from illegal activities like employee theft, wire transfer fraud, forgery, and embezzlement.

Whether you run a small shop or a large corporation,the risk of internal and external fraud is real.

Having fidelity insurance ensures that your business is safeguarded against financial losses that can occur from these crimes.

This insurance covers: Losses from tampered checks, essential computer fraud protection, funds transfer fraud protection, coverage for money and securities theft or damage, on or off premises.

Imagine you run a maintenance company and discover an employee has been secretly moving company funds to their account for months. This theft might go unnoticed, causing major financial losses. Without commercial crime insurance, your company would bear these losses. However, fidelity insurance covers such theft, allowing your business to recover and continue operations without major financial difficulties.

https://www.irmi.com/term/insurance-definitions/commercial-crime-policy

https://www.usnews.com/insurance/glossary/business-crime-insurance