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Crime Insurance
Businesses of all sizes are vulnerable to financial losses caused by theft, fraud, and employee dishonesty. Crime Insurance provides protection against financial crimes committed by employees or third parties, ensuring that your business can recover from internal and external threats. This coverage is essential for businesses that handle cash, sensitive data, or valuable assets.
A Crime Insurance policy typically includes coverage for:
- Employee theft and embezzlement
- Forgery and alteration of financial documents
- Fraudulent electronic fund transfers
- Theft of money, securities, or property
- Social engineering scams and impersonation fraud
At
McShea Insurance, we understand the risks businesses face in today's environment. We tailor
Crime Insurance policies to help protect your business from financial loss due to fraudulent activities.
Who Needs Crime Insurance?
Businesses that handle cash, sensitive financial information, or valuable assets should consider Crime Insurance, including:
- Retailers and restaurants
- Financial institutions and accounting firms
- Healthcare providers and medical offices
- Nonprofit organizations
- Technology and data service companies
FAQs
Is Crime Insurance necessary if I have Cybersecurity Insurance?
Yes, Crime Insurance and Cybersecurity Insurance cover different types of risks. While Cybersecurity Insurance protects against data breaches, ransomware, and cyberattacks, Crime Insurance covers financial losses due to fraud, employee theft, and social engineering scams. Businesses should consider having both policies to ensure comprehensive protection.
How does Crime Insurance protect against employee theft?
Crime Insurance covers losses resulting from dishonest acts committed by employees, such as embezzlement, cash skimming, and theft of company property. This coverage helps businesses recover stolen funds and assets when employees engage in fraudulent activities.
How much does Crime Insurance cost?
The cost of Crime Insurance depends on several factors, including:
- The size and industry of your business
- The amount of cash or securities handled
- Your company’s internal fraud prevention measures
- Claims history and risk exposure
At McShea Insurance, we work closely with businesses to assess their risks and determine a policy that fits their needs and budget.
Can I customize my Crime Insurance policy?
Yes! Crime Insurance policies can be tailored to fit the unique risks of your business. Some common endorsements include:
- Social Engineering Fraud Coverage: Protects against scams where employees are tricked into transferring funds.
- Third-Party Crime Coverage: Extends protection to financial crimes committed by non-employees.
- Extortion and Ransomware Protection: Covers financial losses due to extortion attempts.
Get Started Today
Protect your business from financial losses caused by fraud and theft with Crime Insurance. Contact McShea Insurance today to discuss your coverage options and get a personalized quote.