Employee dishonesty
Theft of money, securities or property by employees.
Business Insurance
Commercial crime insurance for theft and fraud.
The most expensive theft a business suffers is usually internal, and it usually runs for years before anyone notices.
Commercial crime cover addresses dishonesty rather than accident. Employee theft, forged cheques, fraudulent payment instructions and stolen cash are all outside a property policy, which responds to physical damage rather than to money leaving the business by deception.
Employee dishonesty and social engineering
Employee theft is the largest single category, and it is usually a long-running pattern rather than one event — which is why segregation of duties and reconciliation matter so much to underwriters.
Funds transfer fraud and social engineering, where somebody is deceived into sending money, is the fastest-growing exposure. It sits awkwardly between crime and cyber policies, and it is frequently sub-limited on both. Confirm where yours sits.
What it covers
The parts of a commercial crime insurance policy
Money and securities
Cash on the premises and in transit to the bank.
Forgery and alteration
Forged cheques and altered financial instruments.
Funds transfer fraud
Money sent on fraudulent instruction — check where this sits and its limit.
Working with us
What we do differently
We are an independent agency, so we place your commercial crime insurance across several carriers rather than fitting you to one company's product. That means a genuine comparison, and someone to call who is not a call centre.
- Find out whether social engineering sits on your crime or cyber policy, and its sub-limit
- Document segregation of duties and reconciliation — underwriters credit it
- Check whether cover extends to money held by third-party administrators
Common questions
Commercial Crime Insurance, answered
Does my property policy cover employee theft?
No. Property insurance covers physical damage and usually excludes dishonest acts by employees. Commercial crime cover is a separate policy written for exactly that.
What is social engineering fraud?
Somebody in the business is deceived into transferring money, typically by a convincing email. It sits between crime and cyber policies and is frequently sub-limited on both, so it is worth confirming which of yours responds.
How much cover should we carry?
Consider the largest sum one person could move before detection, not your average balance. Long-running internal theft accumulates well beyond what most owners first estimate.
Related cover
Often arranged alongside this
Cyber Liability Insurance
The cost of a breach is rarely the hacking. It is the notification, the forensics, the downtime and the lawyers afterwards.
Read moreBusiness Insurance
A shop, a contractor and a software firm face entirely different risks. We place commercial cover across multiple carriers rather than fitting you to one company's template.
Read morePawn Shop Insurance
A pawn shop holds valuable, portable goods that mostly belong to customers. That combination shapes the whole policy.
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