Define: Crime Insurance

Crime insurance is a type of insurance policy that provides coverage for losses resulting from criminal acts such as theft, fraud, and embezzlement.

Any business or organisation that handles money, securities, or other valuable assets should consider purchasing crime insurance.

Crime insurance typically covers losses resulting from employee theft, forgery or alteration, computer fraud, and theft of money and securities.

Employee theft coverage provides protection against losses resulting from theft or embezzlement committed by employees.

Computer fraud coverage provides protection against losses resulting from unauthorized access to computer systems or data.

Forgery or alteration coverage provides protection against losses resulting from the forgery or alteration of checks, drafts, or other financial instruments.

Money and securities coverage provides protection against losses resulting from the theft of cash, checks, or other negotiable instruments.

Crime insurance and fidelity bonds both provide coverage for losses resulting from criminal acts, but fidelity bonds are typically designed to protect against losses resulting from employee dishonesty.

The cost of crime insurance varies depending on the size of the business, the types of coverage needed, and other factors.

Crime insurance can be purchased through insurance brokers or directly from insurance companies. It is important to work with a reputable provider and to carefully review the policy terms and conditions before purchasing coverage.