
Special crime insurance is a type of business insurance that protects you from financial losses due to crimes such as theft, robbery, and vandalism.
This insurance is designed to cover the cost of replacing stolen or damaged property, as well as any additional expenses incurred as a result of the crime.
Some businesses are more susceptible to crime than others, such as those with high-value inventory or those that operate in high-crime areas.
Businesses with valuable equipment, such as electronics or jewelry, can be particularly vulnerable to theft and need to consider special crime insurance to protect their assets.
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What is Special Crime Insurance?
Special crime insurance is a type of coverage that protects organizations against specific types of crimes, such as employee theft and unauthorized funds transfers.
These crimes can be devastating to businesses, causing significant financial losses and damage to their reputation. Employee theft, for example, can be a major issue, with employees stealing cash, inventory, and other valuable assets.

Common crimes covered by special crime insurance include receipt of counterfeit money, on-premises or in-transit theft of money and securities, and computer-related crime.
Here are some specific examples of crimes that special crime insurance can cover:
- Employee theft
- Unauthorized funds transfers
- Receipt of counterfeit money
- On-premises or in-transit theft of money and securities
- Computer-related crime (for money and securities only)
- Forgery of specified documents
- Social engineering fraud
It's worth noting that crime programs do not cover losses of intangible items, such as data, personal or other sensitive information, patents, or trade secrets.
Types of Coverage
Special crime insurance offers a range of coverage options to suit different businesses.
Casinos and gaming operations, for instance, can benefit from specialty crime insurance coverage tailored to their unique needs.
Businesses like condominium and homeowners associations, armored car companies, and ATM companies can also purchase specialized policies to protect against specific risks.
Mining risks, security guards, check cashers, and fine art insurance for museums, galleries, and private collections are also covered under specialty crime insurance policies.
Some businesses may prefer to purchase business crime insurance as part of an industrial package policy, also known as "special multi-peril insurance", which combines different policies to protect against various types of losses.
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Alternatively, businesses can purchase business crime insurance as a standalone policy to add to their existing insurance packages.
This allows them to specify which types of crimes they want the policy to cover, which can be particularly useful for businesses that are vulnerable to certain types of business crimes but not others.
Examples of when a business insurance policy would payout to a business include cash being stolen from a cash register by an employee, money being embezzled through an electronic payment system, or merchandise being stolen by a robber.
Here are some examples of insured perils under a Special Crime and Maritime Piracy policy:
- Direct impact on employees’ safety
- Reputational risk
- Corporate liability
- Business continuity
- Financial risk
Insurance Options
Business crime insurance is available as a standalone policy or as part of an industrial package policy, also known as "special multi-peril insurance." This policy can be useful for businesses that are vulnerable to certain types of crime but not others.
Businesses can purchase business crime insurance to cover losses such as cash theft from a cash register, embezzlement, merchandise theft, and forged checks or payment authorizations. A business can also purchase business crime insurance to cover inventory that walks out the door without being accounted for.
You can purchase business crime insurance as a standalone policy to add to your existing insurance policies or packages. This allows you to specify which types of crimes you want the policy to cover.
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Products

Insurance companies offer a wide range of products to protect businesses from various risks. Armored Car Insurance is one such product that provides coverage for armored vehicles and their contents.
A business can also consider Casinos and Gaming Insurance, which offers protection against losses due to theft, robbery, or other crimes.
Fiduciary Dishonesty is another product that protects businesses from losses caused by the dishonest or fraudulent actions of their employees.
Financial Institutions Crime Insurance is designed to protect financial institutions from losses due to crimes like forgery, theft, or embezzlement.
Fine Art Insurance provides coverage for valuable art pieces against theft, loss, or damage.
Governmental Crime Insurance offers protection against losses due to crimes committed against the government or its agencies.
Kidnap, Ransom & Extortion Insurance protects businesses and individuals from the risks of kidnap, ransom, and extortion.
Mercantile Crime Insurance offers protection against losses due to crimes like theft, robbery, or burglary.
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Mining Insurance provides coverage for mining operations against losses due to accidents, theft, or other crimes.
Small Business Crime Insurance offers protection against losses due to crimes like theft, robbery, or burglary for small businesses.
Specialized Products include evacuation and security products that can be tailored to a business's specific risk profile and exposures.
Asset Protection Policy
Asset Protection Policy is a type of insurance that protects businesses from crime-related losses. It's designed to safeguard your assets, including cash, assets, merchandise, and other property.
This policy can cover losses from various types of business-related crimes, such as fraud, embezzlement, forgery, misrepresentation, robbery, theft, or any other type of business crime. Business crime insurance is a type of insurance policy that protects businesses from losses from business-related crime.
Special Crime insurance works on a reimbursement basis, offering unlimited cover for the fees and expenses of a crisis response provider. This can be a huge relief for businesses that need to respond quickly to a crisis.
A Comprehensive Asset Protection Policy is designed to protect small and large businesses from crime-related losses. This modern commercial crime policy is a result of extensive research and experience in underwriting and claims development.
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Insurance

Business crime insurance is a type of insurance policy that protects businesses from losses due to crime-related activities. It can cover losses from cash, assets, merchandise, or other property loss resulting from fraud, embezzlement, forgery, misrepresentation, robbery, theft, or other types of business-related crime.
Business crime insurance is available as a standalone policy or as part of a commercial package policy. However, it's essential to note that commercial business package policies don't automatically include business crime insurance, so it's crucial to specifically include it in the package.
A business can purchase business crime insurance to cover specific types of crimes, which can be particularly useful for businesses that are vulnerable to certain types of crimes but not others. This policy can provide protection against various types of business-related crimes, including employee theft, robbery, and forgery.
Some examples of when a business insurance policy would payout include cash being stolen from a cash register by an employee, money being embezzled through an electronic payment system, merchandise being stolen by a robber, or inventory walking out the door without being accounted for.
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Aon offers a Comprehensive Asset Protection Policy that provides modern commercial crime coverage to protect businesses from crime-related losses. This policy is designed to be tailored to the specific needs of each business.
Aon's innovative approach to program design has resulted in the creation of the CyberCrime Plus policy, which provides optimized capacity levels for mid-market banking clients. This policy is designed to address the evolving risk profiles of U.S. mid-market banks and provides broad coverage against cybercrime and other types of business-related crimes.
Here are some examples of specialist products that Aon offers:
- Armored Car Insurance
- Casinos and Gaming Insurance
- Fiduciary Dishonesty
- Financial Institutions Crime Insurance
- Fine Art Insurance
- Governmental Crime Insurance
- Kidnap, Ransom & Extortion Insurance
- Mercantile Crime Insurance
- Mining Insurance
- Small Business Crime Insurance
- Specialized Products
Why Choose Special Crime Insurance?
Special crime insurance can provide a financial safety net in case of unexpected events.
This type of insurance can help cover the costs of investigating and prosecuting crimes, as well as compensating victims for their losses.
In some cases, special crime insurance can even cover the costs of repairing or replacing damaged property.
Why Trust Great American for Insurance?
Great American is one of the largest monoline crime insurers in the hemisphere.
Their underwriting capacity for private and public businesses, financial institutions, and governmental entities is $50 million.
You can trust Great American with your insurance needs because they have a significant amount of underwriting capacity.
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Why Insurance Matters
In today's business environment, crime insurance is more crucial than ever, with sophisticated threats like white-collar crime events on the rise.
Traditional threats like robbery and physical theft are no longer the only concerns, as internal actors and third parties pose a significant risk to organizations.
With the focus shifting to employees, electronic crime, and social engineering, sound risk management practices are essential to achieve an optimized risk transfer solution.
Organizations need to be prepared for the unexpected, and crime insurance can provide the necessary protection against these emerging threats.
In an increasingly digitized world, the risk of suffering losses due to criminal activity is higher than ever, making crime insurance a vital component of a comprehensive risk management strategy.
Understanding Business Insurance
Business crime insurance is a type of insurance policy that protects businesses from losses due to various types of business-related crimes.
Businesses that deal in cash or online payments are the most susceptible to business crime, making it crucial for them to have this type of insurance.
Business crime insurance provides coverage for losses due to fraud, embezzlement, theft, forgery, or any other business crime, including losses in cash, assets, merchandise, or other property.
Businesses need to purchase business crime insurance separately, as business crimes are not covered under commercial property insurance.
Here are some key points to consider:
- Business crime insurance provides coverage for losses due to fraud, embezzlement, theft, forgery, or any other business crime.
- Business crime policies need to be purchased separately as business crimes are not covered under commercial property insurance.
- Businesses that deal in cash or online payments are the most susceptible to business crime.
- Business crime insurance covers losses in cash, assets, merchandise, or other property when a crime occurs.
Business Insurance Defined
Business insurance is a type of policy that protects businesses from losses due to various crimes such as theft, embezzlement, and forgery. This type of insurance is not automatically covered in a commercial business package policy and must be specifically included.
Business crime insurance, also known as commercial crime insurance, is a type of insurance policy that covers losses from business-related crimes such as theft, robbery, and misrepresentation. This type of insurance can be purchased as part of an industrial package policy or as a standalone policy.
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Business crime insurance can cover various types of losses including cash, assets, merchandise, and other property loss. This type of insurance can be especially useful for businesses that are vulnerable to certain types of business crimes but not others.
Some examples of when a business insurance policy would payout to a business include when cash is stolen from a cash register by an employee, money is embezzled by an employee through an electronic payment system, or merchandise is stolen by a robber.
Crime insurance, also referred to as fidelity insurance, protects organizations against direct loss from dishonest or fraudulent acts committed by their employees. This type of insurance can cover various crimes including employee theft, unauthorized funds transfers, and forgery of specified documents.
Here are some common examples of crimes covered by crime insurance:
- Employee theft
- Unauthorized funds transfers
- Receipt of counterfeit money
- On-premises or in-transit theft of money and securities
- Computer-related crime (for money and securities only)
- Forgery of specified documents
- Social engineering fraud
Business Insurance Works
Business insurance works in a way that's separate from commercial property insurance. This means that business crimes, such as theft, embezzlement, and forgery, are not automatically covered under a standard business policy.

Businesses can purchase business crime insurance as part of an industrial package policy, also known as "special multi-peril insurance." This policy combines different types of coverage, including crime, property loss, liability, and other potential loss situations.
Businesses can also buy business crime insurance as a standalone policy, which allows them to specify the types of crimes they want to cover. This is useful for businesses that are vulnerable to certain types of crimes but not others.
Business crime insurance is essential for companies that deal in cash or online payments, as they are the most susceptible to business crime. In fact, the Association of Certified Fraud Examiners estimates that companies lose about 5% of their revenue to fraud every year.
Here are some common types of business crimes that business crime insurance covers:
- Employee theft
- Unauthorized funds transfers
- Receipt of counterfeit money
- On-premises or in-transit theft of money and securities
- Computer-related crime (for money and securities only)
- Forgery of specified documents
- Social engineering fraud
Business crime insurance can be purchased separately from commercial property insurance, and it's essential for businesses to be aware of this distinction. By purchasing business crime insurance, businesses can protect their assets, operations, and reputation from various types of business crimes.
Frequently Asked Questions
What does crime insurance typically cover?
Crime insurance typically covers losses due to employee dishonesty, credit card forgery, computer fraud, and theft, as well as the disappearance or destruction of property. This type of coverage helps protect organizations from financial losses due to common threats.
Sources
- https://scr-ltd.co.uk/solutions-expertise/special-crime/
- https://www.investopedia.com/terms/b/business-crime-insurance.asp
- https://www.aon.com/en/capabilities/risk-transfer/fidelity-and-crime-insurance
- https://www.greatamericaninsurancegroup.com/about-us/business-operations/division/fidelity-crime
- https://www.rivertreeinsurance.com/commercial-insurance/crime-insurance/
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