Crime and fidelity insurance protects against losses from criminal acts

There are many ways a criminal can steal something of value from a business or other commercial interest, and a crime and fidelity insurance plan helps protect against loss arising from such heinous acts. Such types of crime insurance help protect businesses against the losses caused by theft and other criminal acts. The insurance plan will help a business stay afloat if an employee commits theft, is robbed or some other type of loss occurs.

There are eight general types of coverage with crime and fidelity insurance plans for businesses. Employee theft, of course, helps pay up to policy limits for losses occurring from employee theft. It might be the theft of cash, critical equipment or event intellectual property, which can be tricky to insure against loss. Forgery or alteration is another type insurance coverage. It helps insure against losses occurring from when an employee or other person commits forgery or alters an existing document to steal something of value. Once again, the loss could be cash, some illegal transfer of valuable assets, intellectual property or something else of value.

There are two types of indoor insurance protection with crime and fidelity insurance plans. One protects against the theft of cash or securities from inside the premises, whether it is through simple theft, embezzlement or some other form of crime. The other type of inside the premises insurance protects against losses incurred from more overt types of crime, such as physical robbery, burglary, theft from a safe or another type of criminal property loss occurring inside the commercial premises.

Once valuable assets move outside a business, it is subject to insurance coverage for theft and other losses that occur outside the premises. Robberies and similar criminal acts are more likely outside a business, such as when making a regular nighttime cash deposit at a bank. And outside the premises coverage with such types of insurance plans helps insure against losses from such types of criminal acts.

With new technologies come new types of criminal theft, and the crime-prevention insurance plans typically offer coverage for losses arising from computer fraud. There are many ways a business can suffer significant losses from computer fraud, including the transfer of funds or the loss of intellectual property. And computer fraud coverage with the insurance plans can help protect against such types of losses.

Funds transfer fraud is similar to computer fraud and can occur in many ways. Such types of insurance plans with funds transfer fraud coverage can help businesses recoup some or all of their loss if they are scammed and lose a great deal of cash from funds transfer fraud.

The last standard coverage offered by most crime and fidelity insurance plans is protection against loss from crimes involving money orders and counterfeit money. Because they come in so many types and are issued many banks and businesses, money orders generally are easy to counterfeit and use to steal from businesses. Cash is more difficult to counterfeit, but when a business or individual is stuck with a counterfeit bill, the federal government will not reimburse. But the insurance plans with money order and counterfeit money coverage would. By Mike Heuer