What is the definition of Crime Insurance?

Crime Insurance refers to the protection for property losses due to theft, burglary and robbery or the commitment of some crime. Theft here will include not just the theft of physical property but of intellectual property as well. The crime would include the theft of computers and equipment, but also would include the act of selling the client lists and client information to a competitor, the theft of software files and company trade secrets. Crime insurance can also cover crimes such as forgery of documents, hacking and computer fraud.

Each of the covered perils or hazards is outlined in the policy contract. Only those crimes that are stated there will be eligible for claims payments. To further secure the business, the owner can also use fidelity bonds on his employees.

• Reinstatement
• Registered Principal
• Liquor Liability
• Businessowners Policy (BOP)
• Directors and Officers Liability Insurance