Crime insurance
Crime insurance
Crime insurance
Protect Your Business from Fraud and Theft through Crime insurance
Protect Your Business from Fraud and Theft through Crime insurance
Protect Your Business from Fraud and Theft through Crime insurance
Get comprehensive coverage in minutes to safeguard your company from financial losses due to employee dishonesty, fraud, and other criminal activities.
Get comprehensive coverage in minutes to safeguard your company from financial losses due to employee dishonesty, fraud, and other criminal activities.
Get comprehensive coverage in minutes to safeguard your company from financial losses due to employee dishonesty, fraud, and other criminal activities.
Trusted by over 500 top clients, from startups to industry leaders
Trusted by over 500 top clients, from startups to industry leaders
What is Crime Insurance?
What is Crime Insurance?
What is Crime Insurance?
Crime Insurance protects your business against financial losses caused by criminal activities such as employee theft, fraud, forgery, and embezzlement. This insurance covers the direct financial loss to your company resulting from internal and external criminal acts, ensuring your business is protected against unexpected financial harm.
Crime Insurance protects your business against financial losses caused by criminal activities such as employee theft, fraud, forgery, and embezzlement. This insurance covers the direct financial loss to your company resulting from internal and external criminal acts, ensuring your business is protected against unexpected financial harm.
Why take Crime Insurance?
Why take Crime Insurance?
Why take Crime Insurance?
Employee Dishonesty Protection
Employee Dishonesty Protection
Crime insurance provides coverage for losses resulting from dishonest acts committed by your employees, such as theft, fraud, and embezzlement. It ensures your business can recover financially from these unexpected events.
Third-Party Crime Coverage
Third-Party Crime Coverage
In addition to employee dishonesty, crime insurance also covers losses due to crimes committed by third parties, such as forgery, alteration, or unauthorized electronic funds transfers , providing a broad safety net for your business
Mitigate Financial Risks
Mitigate Financial Risks
Without crime insurance, your business could face substantial financial losses that are not covered by other types of insurance. Crime insurance ensures you are protected from the financial impact of both internal and external criminal acts.
Employee Dishonesty Protection
Crime insurance provides coverage for losses resulting from dishonest acts committed by your employees, such as theft, fraud, and embezzlement. It ensures your business can recover financially from these unexpected events.
Third-Party Crime Coverage
In addition to employee dishonesty, crime insurance also covers losses due to crimes committed by third parties, such as forgery, alteration, or unauthorized electronic funds transfers , providing a broad safety net for your business
Mitigate Financial Risks
Without crime insurance, your business could face substantial financial losses that are not covered by other types of insurance. Crime insurance ensures you are protected from the financial impact of both internal and external criminal acts.
What is the process to take Crime Insurance
What is the process to take Crime Insurance
What is the process to take Crime Insurance
1
1
Consultation
Consultation
Reco’s experts will help you identify the right D&O policy that suits your needs.
Reco’s experts will help you identify the right D&O policy that suits your needs.
Reco’s experts will help you identify the right D&O policy that suits your needs.
2
2
Quotation
Quotation
Obtain and compare quotes from multiple insurers to find the best coverage at the most competitive price.
Obtain and compare quotes from multiple insurers to find the best coverage at the most competitive price.
Obtain and compare quotes from multiple insurers to find the best coverage at the most competitive price.
3
3
Policy Issuance
Policy Issuance
Once underwritten, the insurer will issue the policy, and coverage begins upon payment of the premium.
Once underwritten, the insurer will issue the policy, and coverage begins upon payment of the premium.
Once underwritten, the insurer will issue the policy, and coverage begins upon payment of the premium.
How much coverage should I take for Crime Insurance?
How much coverage should I take for Crime Insurance?
How much coverage should I take for Crime Insurance?
Small Businesses
Coverage: ₹1 crore to ₹10 crore
Small businesses should consider coverage between ₹1 crore and ₹10 crore to protect against potential losses from internal and external criminal activities.
Small Businesses
Coverage: ₹1 crore to ₹10 crore
Small businesses should consider coverage between ₹1 crore and ₹10 crore to protect against potential losses from internal and external criminal activities.
Mid-Sized Companies
Coverage: ₹10 crore to ₹50 crore
As your business grows, the risk of larger losses increases. Coverage between ₹10 crore and ₹50 crore ensures adequate protection against significant financial threats.
Mid-Sized Companies
Coverage: ₹10 crore to ₹50 crore
As your business grows, the risk of larger losses increases. Coverage between ₹10 crore and ₹50 crore ensures adequate protection against significant financial threats.
Large Enterprises
Coverage: ₹50 crore to ₹100 crore+
For large enterprises, substantial coverage of ₹50 crore to ₹100 crore or more is essential to handle high-value losses that could severely impact your business operations.
Large Enterprises
Coverage: ₹50 crore to ₹100 crore+
For large enterprises, substantial coverage of ₹50 crore to ₹100 crore or more is essential to handle high-value losses that could severely impact your business operations.
What is not covered under Crime Insurance?
Losses due to accounting errors
Financial losses from poor business decisions
Damage to physical property (covered under Property Insurance)
Losses due to war or governmental actions
Professional liability claims (covered under Errors & Omissions insurance)
Losses covered by other specific insurance policies
What is not covered under Crime Insurance?
Losses due to accounting errors
Financial losses from poor business decisions
Damage to physical property (covered under Property Insurance)
Losses due to war or governmental actions
Professional liability claims (covered under Errors & Omissions insurance)
Losses covered by other specific insurance policies
What is covered under Crime Insurance?
What is covered under Crime Insurance?
Employee theft or dishonesty
Forgery or alteration of financial documents
Robbery or burglary
Embezzlement
Fraudulent funds transfer
Cyber fraud and computer crimes (limited coverage, recommended to take a cyber liability insurance for comprehensive coverage)
What is not covered under Crime Insurance?
Losses due to accounting errors
Financial losses from poor business decisions
Damage to physical property (covered under Property Insurance)
Losses due to war or governmental actions
Professional liability claims (covered under Errors & Omissions insurance)
Losses covered by other specific insurance policies
What is covered under Crime Insurance?
Employee theft or dishonesty
Forgery or alteration of financial documents
Robbery or burglary
Embezzlement
Fraudulent funds transfer
Cyber fraud and computer crimes (limited coverage, recommended to take a cyber liability insurance for comprehensive coverage)
Who Can Cause Financial Loss to Your Business
Employees: Theft, fraud, embezzlement, or other dishonest acts.
Vendors or Contractors: Fraudulent billing or manipulation of contracts.
Customers: Fraudulent claims or check forgery.
Cybercriminals: Unauthorized funds transfer, phishing attacks, or data breaches.
Who Can Cause Financial Loss to Your Business
Employees: Theft, fraud, embezzlement, or other dishonest acts.
Vendors or Contractors: Fraudulent billing or manipulation of contracts.
Customers: Fraudulent claims or check forgery.
Cybercriminals: Unauthorized funds transfer, phishing attacks, or data breaches.
Who Can Cause Financial Loss to Your Business
Employees: Theft, fraud, embezzlement, or other dishonest acts.
Vendors or Contractors: Fraudulent billing or manipulation of contracts.
Customers: Fraudulent claims or check forgery.
Cybercriminals: Unauthorized funds transfer, phishing attacks, or data breaches.
Crime Insurance Claims Examples
Crime Insurance Claims Examples
Crime Insurance Claims Examples
Employee Embezzlement
What happened?
An employee embezzled funds over several years, resulting in significant financial loss for the company.
How claim was paid?
The crime insurance covered the stolen amount, allowing the company to recover financially.
Employee Embezzlement
What happened?
An employee embezzled funds over several years, resulting in significant financial loss for the company.
How claim was paid?
The crime insurance covered the stolen amount, allowing the company to recover financially.
Forged Checks
What happened?
A third party forged company checks, leading to unauthorized withdrawals from the business account.
How claim was paid?
The crime insurance covered the loss, including the legal costs of pursuing the forger.
Forged Checks
What happened?
A third party forged company checks, leading to unauthorized withdrawals from the business account.
How claim was paid?
The crime insurance covered the loss, including the legal costs of pursuing the forger.
Cyber Fraud
What happened?
Cybercriminals hacked into the company’s systems and executed unauthorized wire transfers, leading to substantial financial loss.
How claim was paid?
The crime insurance covered the fraudulent transfers, protecting the company from severe financial damage.
Cyber Fraud
What happened?
Cybercriminals hacked into the company’s systems and executed unauthorized wire transfers, leading to substantial financial loss.
How claim was paid?
The crime insurance covered the fraudulent transfers, protecting the company from severe financial damage.
Cyber Fraud
What happened?
Cybercriminals hacked into the company’s systems and executed unauthorized wire transfers, leading to substantial financial loss.
How claim was paid?
The crime insurance covered the fraudulent transfers, protecting the company from severe financial damage.
Why take Crime Insurance from Reco?
Why take Crime Insurance from Reco?
Why take Crime Insurance from Reco?
Comprehensive Coverage
Reco offers tailored policy terms and coverage designed specifically for your industry, ensuring you have the protection you need.
Comprehensive Coverage
Reco offers tailored policy terms and coverage designed specifically for your industry, ensuring you have the protection you need.
Lowest Rates
With experience serving over 500 large clients, Reco has secured pre-negotiated, competitive rates from top insurers, giving you the best value.
Lowest Rates
With experience serving over 500 large clients, Reco has secured pre-negotiated, competitive rates from top insurers, giving you the best value.
Fast Process
As a tech-enabled broker, Reco has streamlined the purchase process, minimizing the information required and delivering you quotes within a few hours.
Fast Process
As a tech-enabled broker, Reco has streamlined the purchase process, minimizing the information required and delivering you quotes within a few hours.
Single Place for All Insurance
Reco helps you consolidate all your business insurance needs in one place, saving you time and leading to lower rates for you. As part of the Nova Benefits group, which specializes in employee benefits insurance, you’ll have the option to take employee benefits insurance (health, term, accident) through us, helping you manage high-volume claims where employee satisfaction is a top priority.
Single Place for All Insurance
Reco helps you consolidate all your business insurance needs in one place, saving you time and leading to lower rates for you. As part of the Nova Benefits group, which specializes in employee benefits insurance, you’ll have the option to take employee benefits insurance (health, term, accident) through us, helping you manage high-volume claims where employee satisfaction is a top priority.
Single Place for All Insurance
Reco helps you consolidate all your business insurance needs in one place, saving you time and leading to lower rates for you. As part of the Nova Benefits group, which specializes in employee benefits insurance, you’ll have the option to take employee benefits insurance (health, term, accident) through us, helping you manage high-volume claims where employee satisfaction is a top priority.
Frequently Asked Questions
Frequently Asked Questions
How do I know how much crime insurance coverage I need?
How do I know how much crime insurance coverage I need?
Can crime insurance cover losses from past incidents?
Can crime insurance cover losses from past incidents?
How is the cost of crime insurance determined?
How is the cost of crime insurance determined?
Does crime insurance cover losses due to employee error?
Does crime insurance cover losses due to employee error?
What are the limits of crime insurance?
What are the limits of crime insurance?
Can crime insurance be bundled with other policies?
Can crime insurance be bundled with other policies?
Is crime insurance required by law?
Is crime insurance required by law?
Does crime insurance cover cybercrime?
Does crime insurance cover cybercrime?
Who needs crime insurance?
Who needs crime insurance?
What is crime insurance?
What is crime insurance?
Frequently Asked Questions
How do I know how much crime insurance coverage I need?
Can crime insurance cover losses from past incidents?
How is the cost of crime insurance determined?
Does crime insurance cover losses due to employee error?
What are the limits of crime insurance?
Can crime insurance be bundled with other policies?
Is crime insurance required by law?
Does crime insurance cover cybercrime?
Who needs crime insurance?
What is crime insurance?