Crime Insurance
Crime Insurance provides essential financial protection against losses resulting from criminal acts committed against your business, including employee dishonesty, theft, fraud, and forgery.
Business Insurance | Professional Risks Insurance |
Crime Insurance
Specialist Crime Insurance arranged for businesses across the UK
Business crime can strike any organisation, regardless of size or sector. From employee theft and fraud to sophisticated cyber crimes and forgery, the financial impact of criminal activities can be devastating to your operations and reputation. Crime Insurance offers crucial protection against these risks, covering both internal threats from employees and external criminal activities targeting your business.
Our specialist team understands that every business faces unique crime risks depending on their industry, size, and operational structure. Our approach combines extensive knowledge of crime risks across different sectors with access to specialist underwriters who understand the evolving nature of business crime. We can arrange cover that scales with your business, whether you’re a small enterprise or a large corporation with multiple locations.
What does
Crime Insurance cover?
Crime Insurance can provide extensive protection against a wide range of criminal activities that could impact your business finances. The cover we arrange typically includes several key areas of protection, each addressing different types of criminal risk.
Employee Dishonest
Employee Dishonesty forms a core component of most Crime Insurance policies. This cover protects against losses resulting from dishonest acts by your employees, including theft of money, securities, or property. Employee dishonesty claims can range from minor cash theft to sophisticated embezzlement schemes involving significant sums over extended periods.
Forgery
Forgery cover protects your business against losses from forged cheques, drafts, promissory notes, or other financial instruments. In today’s business environment, this protection extends beyond traditional paper documents to include electronically transmitted payment instructions and digital forgeries.
Cyber Fraud
Cyber Fraud cover has become increasingly important as businesses rely more heavily on digital systems. This protection covers losses resulting from the unauthorised use of your computer systems to transfer money or securities from your accounts, providing essential cover against sophisticated cyber criminals who target business financial systems.
Money and Securities
Money and Securities cover protects cash, cheques, and other negotiable instruments both on and off your premises. This includes money in transit between locations, providing protection for businesses that handle significant amounts of cash or valuable documents as part of their operations.
Who needs Crime Insurance?
Crime Insurance is essential for businesses across numerous sectors, particularly those handling cash, valuable inventory, or sensitive financial information. The risks of business crime have evolved significantly, and modern threats can affect virtually any organisation regardless of size or industry.
- Retail businesses face particular exposure to both employee theft and external criminal activities. Crime Insurance offers crucial protection against losses from employee dishonesty, shoplifting-related employee collusion, and sophisticated retail fraud schemes.
- Financial services firms require Crime Insurance cover due to their direct handling of money and securities. These businesses face exposure to complex fraud schemes, employee embezzlement, and sophisticated cyber crimes targeting financial systems.
- Healthcare providers increasingly need Crime Insurance protection as they handle valuable prescription medications and process significant volumes of insurance claims.
- Professional services businesses, including law firms and accounting practices, handle client funds and sensitive financial information that make them attractive targets for criminal activity.
Manufacturing and distribution companies with valuable inventory and equipment storage require protection against employee theft and organised criminal activities targeting high-value goods. These businesses often have multiple locations and complex supply chains that can create vulnerabilities to various forms of criminal activity.
Questions?
Ready to protect your scale-up with insurance that matches your ambition? Contact us today to start a conversation. Let’s build a insurance roadmap that powers your growth and reflects your values.
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We listen, we understand and we advise.
As one of the UK’s fastest growing insurance brokers, Jensten Insurance Brokers, is an award-winning broker with specialist advisers across multiple classes of insurance cover and sectors. Our track record of delivering for clients makes us a leading choice.
We also strive to be an employer of choice, giving our clients access to passionate, talented advisers, and our people an enjoyable and rewarding career.
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Crime Insurance FAQs
Crime Insurance policies we arrange can cover various criminal acts including employee theft, fraud, forgery, computer crimes, and money theft. cover typically extends to both internal threats from employees and external criminal activities targeting your business. The specific cover depends on your crime policy terms and the particular risks your business faces.
Standard commercial insurance policies often exclude or provide limited cover for crime-related losses. Crime Insurance specifically addresses these gaps, providing dedicated cover for losses resulting from criminal acts. This specialised cover includes specific definitions and cover triggers designed to respond to crime-related incidents that might not be covered under general commercial policies.
Crime Insurance claims typically require documentation demonstrating that a covered criminal act occurred and quantifying the resulting loss. This may include police reports, forensic accounting records, employment records, and other evidence depending on the type of crime. Our claims support team can guide you through the documentation requirements for your specific situation.
Crime Insurance premiums depend on factors including your industry, business size, employee count, cash handling procedures, internal controls, and claims history. Businesses with stronger internal controls and security measures typically qualify for more favourable terms. We work with you to present your risk profile effectively to underwriters to secure pricing.
Strong internal controls are essential for managing crime risks, but they cannot eliminate all exposures. Even businesses with excellent procedures can face losses from sophisticated fraud schemes or collusion between employees. Crime Insurance offers crucial financial protection when prevention measures are circumvented, ensuring business continuity despite criminal losses.
