Crime Insurance

Crime insurance covers the losses resulting from criminal acts such as robbery, burglary and other forms of theft either by employees or third parties. It is a superior replacement for ‘Fidelity Guarantee Insurance’.

It covers acts by employees, third parties, temp or seasonal staff, contractors and outsourcing operations. Other than compensation for established losses the policy can reimburse fraud investigations costs.

This policy can cover any or all of the following risks:

• Employee Theft
• Forgery or Alteration
• Inside the Premises – theft of money and securities
• Inside the Premises – robbery or Safe burglary of other property
• Computer Fraud
• Funds Transfer Fraud
• Money Orders and Counterfeit money

Some insurance companies can also provide the following extensions:

• Client loss
- Where the insured is responsible for the care, custody and 
control of clients’ money, securities or property; and such 
has been lost under the main cover
• Fees, costs and expenses
  • Auditor fees or investigation costs to identify covered losses
  • Legal fees in defense of demands or claims resulting from 
a covered loss
  • Fair and reasonable costs to restore the insured computers 
following a covered loss
• Automatic Cover for Acquisitions 
- Cover provided if gross turnover and number of employees is each less than 15% and the business is not materially different from the insured’s current business
• Discovery period
- If an insured decides to discontinue a commercial crime 
policy a discovery option is available to cover unknown loss