Crime
What is it?
Crime insurance helps protect your company from financial losses caused by employees or third parties. It provides protection for loss of money, property, or other assets due to employee dishonesty, theft, embezzlement, forgery, and cybercrime. Crime Insurance helps businesses recover from the financial impact of criminal acts committed by both internal and external parties.
Why is it important?
Crime Insurance is essential as it shields your business from the detrimental effects of fraud and other criminal activities. Even with robust internal controls, no organization is entirely immune to the risk of dishonest acts. Having Crime Insurance ensures that you're prepared to handle the financial aftermath of such incidents, maintaining your financial stability and reputation.
What does it cover?
Employee Dishonesty
Protection against losses resulting from fraudulent actions by employees, such as theft or embezzlement.
Forgery or Alteration
Coverage for losses arising from forged or altered documents, checks, or electronic transactions.
Computer Fraud
Safeguards against financial losses due to unauthorized access to your computer systems.
Social Engineering Fraud
Coverage for losses due to deceptive schemes, such as phishing, where employees are manipulated into transferring funds.
Theft of Money or Securities
Protection from losses due to theft of cash, securities, or other valuable assets.
Extortion
Coverage for payments made in response to threats of physical harm or damage to your property.
Why Frontier Risk?
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Common Questions
While cybersecurity measures are crucial, they might not prevent all forms of fraud. Crime Insurance complements these measures by offering financial protection.
No, Crime Insurance is valuable for businesses of all sizes, as fraud risks can affect organizations regardless of their scale.