The Benefits of Having a Separate Crime Policy

types of crime insurance

Most business owners know they need property insurance. This policy covers loss from physical damage as well as theft and vandalism. Not all crime-related loss is property-related, though. You may need additional types of crime insurance that cater to your specific risks.
Cyber Security A lot of sensitive information for both your clients is likely hosted on your system. Hackers can steal information, and you need an insurance policy that covers losses that occur as a result of a security breach.
Trade Secrets Carving out your own niche in your industry can be essential to your success. If your innovations are leaked to a competitor, it can easily affect your bottom line. Extra protection is needed to compensate for that loss.
Inside JobMany crime policies are designed to protect the company and its employees. When an employee embezzles or commits some other crime against the company, however, those policies may not be as useful as types of crime insurance that specifically protect against loss from the inside.
Kidnapping Some companies have a heightened risk for the kidnapping of key individuals. Your agent can discuss policies that address this risk.
Your building and its contents are not the only things you are at risk of losing. A qualified agent can walk you through your particular risks and find sufficient coverage.

Helping Your Business Become Crime-Free

Kidnap and Ransom Insurance PA

Crime is an unfortunate part of owning a business, one that takes a huge portion of your profits away each and every month if the issue remains unchecked. Uncovering the source of crime can be difficult on your own. This is why thousands upon thousands of business owners have opted to invest in crime insurance alongside their regular business insurance options. There are many benefits to taking this course of action, and some of the most prominent include:

  • The skills and technology required in order to detect ongoing criminal threats, whether they’re from digital sources or physical, or even from the employees who work within your business each and every day.
  • The implementation of an expertly-designed risk management and loss prevention program that seeks not only to stop ongoing criminal activities from occurring again, but reduce the likelihood of new threats arising and escaping notice within the company.
  • The proper handling of threats like employee dishonesty, embezzlement, forgery, robbery, wire transfer fraud, computer fraud and much more. You may even be reimbursed in the event cash or checks are stolen from your business.

These are just a handful of the amazing benefits and security measures you can expect when you decide to invest in a bit of crime insurance for your business. Speak to a professional to learn more about how this course of action can improve your entire business owning experience.