Your organization must account for many risks and exposures amid its daily operations. Certain perils and possible incidents may lurk as potential sources of significant losses regardless of your company’s size, sector or unique circumstances. Unfortunately, crime is among these inherent dangers. Even if your organization may not think it possesses anything that perpetrators would be interested in, you must take these threats seriously and consider the benefits of commercial crime insurance.
What Does Commercial Crime Insurance Cover?
Commercial crime insurance is generally capable of casting a versatile safety net across many potential crime-related risks and exposures. Because crime can impact organizations of all sizes and sectors, the value of a suitable commercial crime policy may transcend industry lines. Although policy details may vary, this coverage may often be able to provide financial protection for the following incidents:
- Theft—If a perpetrator enters your business’s premises and commits theft, this coverage can help insulate you from losses.
- Robbery—If one of your employees is carrying company property or cash and is robbed, your insurance can help your business recoup its losses.
- Burglary—This coverage can compensate your business for losses if criminals forcibly enter your premises and you accrue financial losses.
- Employee dishonesty—Commercial crime insurance is also generally capable of providing financial assistance if your own employees commit criminal acts, such as theft, embezzlement and skimming.
- Cybercrime—This coverage can help pay for losses arising from a data breach or other cyber incidents, including investigations, notifying affected parties and enlisting additional services (e.g., credit monitoring, public relations).
- Forgery—If a perpetrator is able to inflict financial harm on your organization through forgeries, such as by obtaining company checks, this coverage can insulate you from resulting losses.
If your organization regularly dispatches employees to off-site locations, such as a client’s business or home, or otherwise provides workers access to third-party property, it may also be advisable to acquire fidelity bonds. A qualified insurance professional can help you understand your various options for crime-related coverage and ensure that you are sufficiently protected.
Get the Right Coverage
We’re here to help. The dedicated team at U.S. Risk LLC has over 30 years of experience helping businesses in the Houston area assess and address their insurance needs. Our agents will work with you to understand your risks and exposures, explore your options and craft optimal coverage.
Visit our website or call 800-460-6424 to get started today.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.