Commercial Crime Liability Insurance

Commercial crime insurance provides protection from financial losses related to business-related crime, including theft by employees, forgery, robbery, and electronic crime.

There are two types of commercial crime coverage:

• First-party coverage: Protects the business from its own losses
• Third-party coverage: Protects the business if another entity claims that the business’s criminal act caused them losses

No two organizations are the same, they have different financial situations, distinct levels of risk and risk control, different employee cultures. all of which impact their need for insurance and ability to absorb and deal with the impacts of crime.

Organizations buy commercial crime insurance to limit the negative financial consequences of crime. They buy it to protect the organization’s balance sheet, to ensure that crime cannot and will not hurt the long-term viability of the organization.

Commercial crime insurance can cover losses that occur on the insured’s premises or elsewhere, such as while in transit. It can also cover losses caused by non-employees, such as third-party theft. Commercial crime insurance policies can include legal services or forensic accounting to investigate fraudulent acts.