What is commercial crime insurance?
Crime and fidelity insurance is a type of business insurance that helps protect companies from financial losses caused by theft, fraud, or dishonest acts. This coverage could help a company recover from financial losses whether the crime occurred inside the company (employee theft) or from the outside (robbery).
Why do I need commercial crime insurance?
Crime is a factor that can cross into every single industry, from construction to retail. If an employee steals money, a hacker tricks the company into sending funds, or someone forges a check, the business could lose significant money. It’s especially important if your business handles cash, sensitive data, or online transactions because one mistake can cost thousands of dollars. Acuity’s crime and fidelity coverage is another way we help protect your business so you can focus on what matters most.
What does commercial crime insurance cover?
Acuity’s commercial crime and fidelity coverage protects against the dishonest acts of your employees and others, including theft of your property, fraud, or theft of a client’s property. There are 11 different types of coverage available, including Employee Theft, Forgery or Alteration, Computer and Funds Transfer Fraud, Theft of Money and Securities, Robbery or Safe Burglary, Money Orders and Counterfeit Money, and Guest Property.
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Employee Theft protects you against loss from dishonest acts committed by an employee.
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Forgery or alteration covers if a third party obtains your checkbook and writes checks.
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Computer and funds transfer fraud protects you when your money, securities, or other property is fraudulently transferred from your possession via a computer or the Internet.
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Theft of money and securities can cover the disappearance of money and securities at and away from your location.
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Robbery or safe burglary covers any damage to your property or location caused by someone taking property from another person or a safe.
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Money orders and counterfeit money coverage protects you from loss after you accept, in good faith, counterfeit cash or money orders.
Do I need any other types of coverage?
While crime and fidelity insurance cover a wide range of business risks, you may need other insurance coverages. Acuity believes that protecting your business is a partnership, so we want to ensure you understand what it doesn’t cover. The following areas require other insurance policies offered by Acuity.
Workers' Compensation provides benefits to employees who suffer work-related injuries or illnesses. Acuity offers workers’ compensation insurance to ensure your employees can get back to work.
Commercial Auto provides liability and physical damage coverage for vehicles used in business If your business owns or leases vehicles or employees drive personal vehicles for business purposes, Acuity can help protect you with commercial auto insurance.
Business Property protects your company’s physical assets against damage or loss due to various risks. Acuity can help protect your building and contents with our business property insurance.
OSHA 10-hour training
OSHA training is offered at no cost to our insureds and is available throughout our operating territory if you have 15 or more people to train. You and your employees can learn to prevent, recognize, and control various safety and health hazards.
Construction contract help
Do complex contracts have your head spinning? Our experienced agents can help answer most of your questions. However, if the issue needs further legal review, we offer access to a network of attorneys specializing in construction contracts.
Who needs Commercial Crime Insurance?
Retail
Wholesalers and distributors
Services businesses
Restaurants
Auto repair shops
Landlord & rental properties
Commercial auto insurance
Does your business rely on vehicles to get work done? When an employee is involved in an auto accident our commercial auto insurance protects your business. Acuity would love to keep you working and on the road.
Acuity’s Businessowners Policy – Bis-Pak®
Bis-Pak® is the easiest way to insure smaller businesses. The broad coverage insures buildings, contents, and liability with business income included automatically—all in one simple policy.
Workers' Compensation
No business owner wants to see his or her employees get injured on the job. Rest assured that with Acuity’s workers’ compensation insurance, when an injury does occur, we will take care of your employee by getting them the help they need so they can get back to work.
Equipment Breakdown
Equipment breakdown coverage is no longer simply for your boiler and machinery. Learn about all of the things that Acuity's equipment breakdown can cover.
FAQs
Have questions? We have answers.
Why do I need coverage for employee theft?
Sometimes good people do bad things, we know you’ve chosen your employees carefully but the fact remains that almost 90% of all theft losses involve employees. Employee Theft protects you against theft losses caused your employees.
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