Depending on your policy, Crime Insurance typically covers:
- Employee Theft: Any money or property stolen from a business by an employee - unless the business is aware the employee has previously stolen from the business.
- Forgery: Checks, promissory notes, or other promises to pay money that are forged by someone other than an employee.
- Theft (inside premises): Any money or securities located in the premises and are lost due to theft, disappearance, or destruction. Loss must be caused by a non-employee.
- Robbery (inside premises): Property (other than money and securities) taken by force, or under the threat of force from the premises by a non-employee. Does not include non-violent shop lifting.
- Safe Burglary (inside premises): Property (other than money or securities) taken from inside a locked safe by a non-employee. May also cover damage caused to building and safe during robbery.
- Loss of Money or Securities (outside premises): Any money or securities that are lost due to theft, damage or destruction while outside your premises and is in the care of a messenger or armored car company. (example: en route to the bank)
- Funds Transfer Fraud: Loss caused by fraudulent instructions being provided to your financial institution that leads to transfer of funds out of your account.
Important Exclusions:
- Any Crime, Theft, or Action committed by you or a business partner, or in collusion between your employees and a business partner. This may also include upper management.
- Theft committed by an employee who was known to have committed dishonest acts previously.
- Accounting errors
- Loss of Income (See Business Interruption Coverage)
- Data Breaches (See Cyber Insurance)
