Commercial Crime Insurance, explained.
Consider financial losses that ordinary property coverage may not address.
Commercial Crime Insurance
Commercial crime insurance can cover specified losses from theft, dishonesty, forgery and other defined crimes. The available insuring agreements vary: employee theft, money and securities, computer fraud and funds transfer fraud are not interchangeable. Limits, verification requirements and exclusions are especially important when comparing policies.
Inside a Commercial Crime policy.
Is this for you?
Plain language answers.
No. Voluntary transfers and social engineering losses can be excluded or have a separate endorsement, smaller limit and verification conditions. Review the exact insuring agreement.
Some fidelity products address employee dishonesty and overlap with commercial crime coverage. Other bond requirements serve different purposes. Compare the covered party, loss trigger and required wording rather than rely on the name.
Not necessarily. Cyber incidents and direct financial theft can trigger different forms. We review the policies together for gaps, exclusions and overlapping limits.
Coverage availability depends on operations, underwriting and the policy’s terms, limits, deductibles, conditions and exclusions. Descriptions are general education, not a coverage determination. Coverage is not bound by submitting an inquiry.
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