Crime Insurance is essential for protecting businesses against financial losses caused by theft, fraud, or dishonesty—both from within and external threats. As an insurance broker, offering crime insurance ensures your clients have the security and peace of mind to focus on their operations while safeguarding their financial stability.
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Crime Insurance provides coverage for financial losses resulting from theft, embezzlement, or fraud committed by employees. Whether funds are stolen directly or through manipulation of financial records, this protection ensures that businesses can recover from the financial impact of dishonest actions.
This coverage allows brokers to address a common concern for businesses, ensuring their clients can mitigate risks associated with employee dishonesty.
Our policy covers losses stemming from forged or altered financial documents, such as checks, promissory notes, or drafts. Fraudulent alterations can significantly disrupt business operations, but Crime Insurance ensures that these risks are mitigated.
Brokers can highlight this coverage as a critical component for businesses relying on high-volume transactions and paper-based or electronic financial documents.
Crime Insurance extends to losses caused by cybercrime, including phishing, email scams, and unauthorized electronic transfers. As digital threats continue to rise, businesses need comprehensive protection against the financial consequences of online fraud.
Offering this coverage allows brokers to address one of the most pressing modern risks for their clients.
Losses caused by external parties, such as burglary, robbery, or theft by vendors, are also covered. This includes physical theft of cash, inventory, or valuable assets. Businesses can rely on Crime Insurance to recover financial stability after such incidents.
This feature supports brokers in providing a complete risk management package for clients concerned about external threats.
Crime Insurance can protect businesses against losses involving client property under their care, custody, or control. This is particularly valuable for service providers, such as accountants or legal firms, who may handle client funds or assets.
This coverage helps brokers serve clients in professional sectors with unique risk exposures.
Losses caused by fraudulent activities or dishonesty from vendors or contractors are covered under this policy. Businesses often rely on third-party relationships, and this protection ensures they can recover from financial damage caused by these external partnerships.
Brokers can position this coverage as a solution for mitigating third-party relationship risks.
Crime Insurance provides protection for the physical theft or loss of cash, securities, or negotiable instruments. This applies to both on-premises incidents and in-transit thefts, ensuring comprehensive financial protection.
Highlighting this feature allows brokers to offer reassurance to businesses managing high-value transactions.
Losses resulting from manipulative tactics, such as impersonation or deceptive communication, are covered under social engineering fraud protection. Businesses can safeguard against financial losses from these sophisticated schemes.
This modern addition to Crime Insurance helps brokers address emerging fraud risks in the digital age.
Crime Insurance typically does not cover:
Brokers should ensure clients understand these exclusions to manage expectations and consider additional policies for comprehensive protection.
Crime Insurance provides coverage for financial losses resulting from theft, embezzlement, or fraud committed by employees. Whether funds are stolen directly or through manipulation of financial records, this protection ensures that businesses can recover from the financial impact of dishonest actions.
This coverage allows brokers to address a common concern for businesses, ensuring their clients can mitigate risks associated with employee dishonesty.
Our policy covers losses stemming from forged or altered financial documents, such as checks, promissory notes, or drafts. Fraudulent alterations can significantly disrupt business operations, but Crime Insurance ensures that these risks are mitigated.
Brokers can highlight this coverage as a critical component for businesses relying on high-volume transactions and paper-based or electronic financial documents.
Crime Insurance extends to losses caused by cybercrime, including phishing, email scams, and unauthorized electronic transfers. As digital threats continue to rise, businesses need comprehensive protection against the financial consequences of online fraud.
Offering this coverage allows brokers to address one of the most pressing modern risks for their clients.
Losses caused by external parties, such as burglary, robbery, or theft by vendors, are also covered. This includes physical theft of cash, inventory, or valuable assets. Businesses can rely on Crime Insurance to recover financial stability after such incidents.
This feature supports brokers in providing a complete risk management package for clients concerned about external threats.
Crime Insurance can protect businesses against losses involving client property under their care, custody, or control. This is particularly valuable for service providers, such as accountants or legal firms, who may handle client funds or assets.
This coverage helps brokers serve clients in professional sectors with unique risk exposures.
Losses caused by fraudulent activities or dishonesty from vendors or contractors are covered under this policy. Businesses often rely on third-party relationships, and this protection ensures they can recover from financial damage caused by these external partnerships.
Brokers can position this coverage as a solution for mitigating third-party relationship risks.
Crime Insurance provides protection for the physical theft or loss of cash, securities, or negotiable instruments. This applies to both on-premises incidents and in-transit thefts, ensuring comprehensive financial protection.
Highlighting this feature allows brokers to offer reassurance to businesses managing high-value transactions.
Losses resulting from manipulative tactics, such as impersonation or deceptive communication, are covered under social engineering fraud protection. Businesses can safeguard against financial losses from these sophisticated schemes.
This modern addition to Crime Insurance helps brokers address emerging fraud risks in the digital age.
Crime Insurance typically does not cover:
Brokers should ensure clients understand these exclusions to manage expectations and consider additional policies for comprehensive protection.
What is Crime Insurance?
Crime Insurance provides financial protection against losses caused by theft, fraud, and dishonest acts—whether committed by employees, third parties, or cybercriminals. It is an essential policy for businesses of all sizes seeking to safeguard their assets from unforeseen risks.
Who Needs Crime Insurance?
Crime Insurance is vital for:
Covers a wide range of fraud and theft scenarios, ensuring robust protection for clients.
Tailored solutions to address the unique risks of each client’s business.
Includes cybercrime, social engineering, and other emerging threats.
Protects businesses from unexpected financial losses, allowing them to focus on growth.
Brokers offering Crime Insurance demonstrate a commitment to addressing their clients’ critical vulnerabilities.
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What does Crime Insurance cover?
Crime Insurance covers financial losses caused by theft, fraud, forgery, cybercrime, vendor dishonesty, and other acts of dishonesty or fraud, both internal and external.
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Is Crime Insurance necessary for small businesses?
Yes, small businesses are often targeted for fraud and theft due to limited internal controls. Crime Insurance provides essential protection for businesses of all sizes.
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Does Crime Insurance cover cybercrime?
Yes, Exance Crime Insurance includes coverage for cyber-related fraud, such as phishing, unauthorised electronic transfers, and social engineering schemes.
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How is Crime Insurance different from Cyber Insurance?
While Cyber Insurance focuses on broader cyber risks like data breaches and ransomware, Crime Insurance specifically covers financial losses from fraudulent activities, including cyber-related thefts.
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Does the policy cover theft by vendors or contractors?
Yes, vendor and contractor fraud is included, ensuring businesses are protected against dishonest acts committed by third parties.
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Is cash theft covered?
Yes, theft or loss of cash and securities, whether on-premises or in transit, is covered under the policy.
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How can businesses minimise their risk of fraud?
Brokers can recommend internal controls, employee training, vendor screening, and robust cybersecurity measures to complement Crime Insurance coverage.
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Can Crime Insurance be tailored for specific industries?
Yes, Exance offers customisable policies to address industry-specific risks, ensuring each client’s unique exposures are covered.
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Are losses from known dishonest employees covered?
No, claims involving fraud by employees with a known history of dishonesty before the policy start date are excluded.
