Crime Insurance

 A crime insurance policy that is designed to meet the needs of organizations other than financial institutions (such as banks).  This policy would cover a business who had the potential to have assetts or money stolen by a client or employee.

Sometimes a crime policy is also called a fidelity insurance policy or a fidelity bond. 

Parts of a Crime Policy:

  • Employee Dishonesty Coverage
  • Forgery or Alteration
  • Computer Fraud
  • Funds Transfer Fraud
  • Kidnap, Ransom or Extortion Coverage
  • Money and Securities Coverage
  • Money Orders and Counterfeit Money Coverage

What to avoid in a Crime Policy:

A Conviction Clause would make the policy payable only if someone is convicted of a crime.  Crimes are prosecuted by attorneys and the carrier and the client have little control over who would be prosecuted.  

Do you need a Crime Policy? 

Let one of our Client Advisors review your coverages.  Email or call 410-835-2000.

Thanks for reading.