• Tamir Zuckerman

What is a Crime Coverage Part on commercial policy and do I really need it?

Every business owner should have, or consider adding a Crime part to his policy, but what does it really mean?

Crime is a serious business threat. Whether you are victimized by internal or external acts of crime, the business owner or manager has to assume the responsibility for money, data, or properties that were stolen.

Let us introduce you to Crime Insurance. The insurance that protects you from losses due to internal and external acts such as petty theft, forgery, burglary, extortion, computer fraud, and robbery.

It is not possible to monitor your business 100% of the time. Crime Liability Insurance enables you to recover from losses caused by criminal acts that are not covered by other insurance plans.

Read on to understand if this insurance type is right for your business.



Crime is one of the top causes of loss for modern businesses. Crime Insurance can protect your business from both first-party risks and third party accusations of a crime arising from your business. First-party coverage is insurance for direct losses to the business from a covered criminal act. Third-party coverage is for accusations from others that a criminal act related to your business caused a loss. A common circumstance is an accusation of theft by your employee of another's property.

This kind of business insurance includes 8 Insurance Service Office (ISO) insuring agreements:

- Alteration or Forgery

- Employee Theft

- Theft of securities and money inside the business premises

- Safe burglary or robbery inside the business premises

- Theft outside the premise

- Funds transfer fraud computer fraud

- Counterfeit money and Money Order fraud


Who really Need Crime Insurance?

It will come in handy if your business:

- Is a small to medium-sized business with limited resources to spend on security

- Engages in cash, credit card, or check transactions

- Hires part-time employees or volunteers

- Has inventory, stocks, and products that can easily be used and carried out by employers

- Allows employees to handle financial records and customer data

- Does not have a good security system




© Sela Group LLC | United states

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