Even with strong security measures in place, businesses remain vulnerable to financial loss.
Organisations that handle valuable assets are often prime targets for both external and internal criminal activity.
Crime insurance helps protect businesses against losses arising from criminal acts such as theft, forgery, fraud, and embezzlement — whether committed by employees or third parties.
Typical coverage
Our crime insurance solutions are designed to help businesses recover from financial losses that could otherwise disrupt operations or impact cash flow.
Cover can be tailored to protect against a wide range of crime-related risks, including:
Dishonest acts of employees such as forgery
Electronic computer crime
Theft of property on premises or in transit
Social engineering fraud
Funds transfer fraud
Counterfeit currency or securities
Our crime insurance solutions are designed to help businesses recover from financial losses that could otherwise disrupt operations or impact cash flow.
Crime insurance FAQs
Who needs crime insurance?
Whether you are a small business, a large corporation, or a financial institution, crime insurance is essential if you handle cash, electronic payments, or other valuable assets.
What’s not covered by crime insurance?
Cyber cover varies according to the nature of a business and its specific risks, but will usually cover the cost of:
• Typical exclusions include:
• Owner or partner fraud
• War or nuclear risks
• Contract disputes
• Accounting or inventory errors
• Losses discovered outside the policy period
• Indirect losses like business income or reputation
• Cybercrime without direct money or property lossWhat’s the difference between crime insurance and fidelity bonds?
Crime insurance offers broad protection against internal and external crimes, while fidelity bonds specifically cover losses from employee dishonesty.
How much crime insurance do I need?
This will depend on factors such as the size and nature of your business, the number of employees you have, the value of the money or assets you handle, and the internal controls and safeguards you have in place.
Is cybercrime included in crime insurance?
Cybercrime losses are not typically covered under standard crime insurance policies because they are covered under a separate cyber insurance policy.
How can I reduce the risk of business crime?
Understand your risks and mitigate your exposure. An Elmore Risk Review will highlight the steps you need to take to improve your security and internal controls.