Crime Insurance
Crime Insurance is a specialised policy designed to protect businesses from financial losses caused by criminal activities such as theft, fraud, embezzlement, and other dishonest acts. Whether it's an employee siphoning funds, a cybercriminal hacking into your accounts, or a third party stealing from your premises, this insurance ensures that your business is covered against the wide range of crimes that can disrupt your operations. Becks Insurance Brokers in Brighton offer tailored Crime Insurance solutions to help safeguard your business from the financial impact of crime.
Protecting Your Business Against Financial Crime
In today’s business environment, the risk of criminal activity is ever-present, and it can come from both internal and external sources. Crime Insurance provides comprehensive cover for the losses associated with these activities, including the theft of money, securities, or property, as well as fraud committed by employees or third parties. This type of insurance is crucial for businesses of all sizes, offering peace of mind that your assets are protected against the unexpected.
Features and Benefits
Employee Theft and Fraud: Covers financial losses resulting from dishonest acts committed by employees, such as embezzlement, theft, or falsification of records.
Third-Party Theft: Protects against losses due to theft or fraud committed by individuals outside your organisation, including burglary, robbery, and cyber theft.
Forgery and Alteration: Covers losses resulting from forged or altered cheques, drafts, or other financial documents used to commit fraud against your business.
Cybercrime Protection: Includes coverage for losses due to cybercrimes such as phishing, hacking, and fraudulent fund transfers, ensuring your digital assets are secure.
Funds Transfer Fraud: Protects against losses when funds are fraudulently transferred from your accounts due to deception or hacking.
Kidnap, Ransom, and Extortion: Covers expenses related to kidnap, ransom, and extortion threats, including the cost of negotiating and paying ransoms.
Business Interruption Cover: Provides financial compensation if your business operations are disrupted by a criminal act, helping to cover lost income and additional expenses.
What is Typically Covered?
Crime Insurance provides a broad range of coverage options to protect your business from various forms of criminal activity. Typical cover might include:
Employee Dishonesty: Financial protection against theft, fraud, or embezzlement committed by employees.
Theft of Property: Covers the loss of money, securities, or property due to theft, burglary, or robbery by third parties.
Forgery or Alteration: Protection against financial loss from forged or altered financial documents.
Computer and Funds Transfer Fraud: Covers losses from cybercrime, including fraudulent fund transfers, phishing, and hacking.
Ransom and Extortion: Covers the cost of managing and resolving threats of kidnap, ransom, or extortion, including ransom payments.
Credit Card Fraud: Protection against losses due to the fraudulent use of company credit cards or other payment methods.
Exclusions might include losses resulting from the intentional misconduct of the insured business’s owners, fines and penalties, or indirect losses such as reputational damage. The specific terms and conditions will vary depending on your business’s needs and the insurer. Becks Insurance Brokers will work closely with you to ensure that your policy is tailored to provide comprehensive protection against the specific crime risks your business faces.
To safeguard your business from financial crime, book an appointment with one of our specialists here or arrange a quotation here.
