Crime Insurance

Covers losses resulting from theft, fraud, or embezzlement committed by employees, including misappropriation of funds, securities, or other company property.

Protects against losses from forged or altered checks, drafts, promissory notes, or other financial instruments, including fraudulent signatures.

Covers theft, disappearance, or destruction of money and securities within the insured's premises by employees or third parties.

Provides coverage for money and securities stolen, lost, or destroyed while outside the premises, including during transit or at other locations.

Protects against losses resulting from unauthorized use of computer systems to fraudulently transfer money, securities, or property.

Covers losses from fraudulent instructions to transfer funds from the insured's account, including wire transfer fraud and electronic payment fraud.

Protects against losses resulting from threats of violence, property damage, or reputational harm, including cyber extortion and ransomware.

Covers losses from forged endorsements on checks deposited to the insured's account or fraudulent alterations of deposited instruments.

Different industries face varying levels of exposure to criminal activities. Businesses with high cash transactions, valuable inventory, or confidential data require higher coverage.

Company size, employee count, and geographic spread of operations affect coverage extent. Larger businesses with multiple locations require broader territorial coverage.

Number of employees and their roles significantly impact risk levels. Businesses with large workforces handling sensitive data or financial transactions face higher risks.

Strong internal controls like regular audits, background checks, and duty segregation can reduce risk. Insurers evaluate control robustness for premium determination.

Past claims related to criminal acts directly impact coverage. Poor claims history can lead to higher premiums, stricter conditions, or limited coverage.

Strength of cybersecurity infrastructure including firewalls, encryption, and multi-factor authentication affects coverage terms for cyber-related crimes.

Despite stringent hiring practices, businesses remain vulnerable to internal fraud, embezzlement, and theft. Crime Insurance helps recover from financial losses caused by dishonest employees.

Criminal schemes are evolving with increasing reliance on technology. Businesses face heightened risks from cyber threats like hacking, ransomware, and phishing attacks.

With growing reliance on digital transactions, businesses face increasing cybercrime threats. Coverage protects against digital theft, data breaches, and cyber fraud.

Internal fraud can go undetected for years, leading to substantial cumulative losses. Crime Insurance covers such long-term crimes that could cause devastating financial outcomes.

Companies managing high-value assets like inventory, cash, or intellectual property face greater theft and fraud risks. Insurance helps protect these valuable assets.

Major financial losses from theft or fraud can disrupt operations and cash flow. Crime Insurance provides financial support to continue operations without significant interruptions.

Employee theft or fraud is one of the most frequent causes of litigation, including embezzlement, misappropriation of funds, or theft of company assets.

Litigation arising from forgery or alteration of checks, promissory notes, or other financial instruments, including fraudulent signatures and document manipulation.

External individuals or entities committing fraud against the company, such as stealing funds, impersonating employees, or forging contracts and documents.

Digital threats including hacking, unauthorized fund transfers, theft of sensitive data, or manipulation of financial records leading to legal disputes with stakeholders.

Physical theft incidents including robbery or burglary, especially involving third-party property or assets under the company's care, custody, and control.

Compromise of sensitive customer or business data, or cyber extortion where data is held for ransom, leading to litigation from affected parties.

Allows businesses to extend the time frame for reporting losses discovered after the policy period, useful for uncovering criminal acts after policy expiration.

Covers losses from unauthorized computer system access, phishing attacks, hacking, and ransomware, extending beyond typical theft to include digital threats.

Covers expenses for public relations efforts to manage reputational damage following significant crime-related losses and restore stakeholder trust.

Protects against fraud involving credit card transactions, counterfeit cards, and financial losses from fraudulent card usage by employees or third parties.

Provides coverage for financial losses from extortion threats, including cyber extortion where criminals demand ransom for not compromising systems or data.

Covers costs of reproducing or restoring data, software, or systems damaged by criminal acts, including losses from hacking or malicious code introduction.

Notify the insurer immediately upon discovering a loss or criminal act, providing details of the loss, nature of crime, and available documentation.

File a First Information Report with police for theft, fraud, or criminal activities, serving as official documentation of the criminal event.

Compile necessary documents including police FIR, incident reports, bank statements, financial records, and evidence of theft or fraud.

Submit formal claim to insurer with police report, internal investigation findings, and supporting financial documentation within policy timeframe.

Insurer appoints loss adjuster to assess claim validity, review documentation, conduct interviews, and investigate the criminal event with law enforcement.

Insurer evaluates total financial loss including stolen property value, fraudulent transactions, and covered expenses based on policy terms.

Support during court proceedings if criminal case goes to trial, including assistance with legal counsel and coordination with law enforcement.

Process payment for covered losses including stolen property costs, fraud-related losses, legal fees, and other covered expenses.

Strong financial backing ensures the insurer can handle large claims without complications, providing assurance for high-value crime-related losses.

Efficient and transparent claims handling with proven track record of settling claims promptly and fairly, helping businesses recover quickly from losses.

Deep knowledge of crime-related risks including cybercrime, employee dishonesty, and theft, allowing for customized solutions for different industries.

Enhanced treaties with reinsurers provide additional protection layers, especially important for complex or high-value claims ensuring stability and security.

Flexible policies that can be customized based on business needs, including options for extending coverage limits and adding specific crime protections.

Comprehensive assistance through entire claims process including police FIR filing, documentation gathering, and court trial support until final resolution.