Crime Insurance Policies
Highlighting the need for proper Crime Insurance is a report from the U.S. Department of Commerce: “Businesses lose more than $400 billion to employee fraud and other workplace crimes annually! Thefts range from money and property, to counterfeit documents and securities, computer fraud and fraudulent financial transactions. With the growth of online banking, expect these numbers to grow significantly in the next several years.”
Crime Insurance encompasses a wide variety of coverage intended on protecting your business from theft; both internally and externally. Many of the coverage parts found in a crime policy are automatically included on a typical Business Owners Policy or BOP policy as well as many Package Policies. But, the limits and scope of coverage on those policies could be somewhat limited to your actual needs, so careful examination should be made to determine if a stand alone Crime Policy is needed.
The Crime Insurance Coverage Options You Can Choose From Include:
- Employee Theft
- Forgery & Alteration
- Electronic Fraud Funds Transfer
- Money & Securities – inside and outside the premises
- Computer Fraud
- Counterfeit Currency and Money Orders
Financial loss by crime is in the news frequently, but for every news report of a spectacular theft, employee embezzlement, or fraud scheme there are likely dozens of smaller and less spectacular losses occurring in companies like yours that never make the news. That’s why sufficient crime insurance, properly designed is important for your business. Crime happens often and it happens insidiously, and often there are no other means to recover loss once it happens. It may be startling to know that should your business checking or other account be wiped out by a fraudulent electronic funds transfer, your bank has no obligation to restore your account! Imagine having a high balance stolen from your account one night and have no means to restore it.
Contact Us in New York for All of Your Crime Insurance Needs
Since 1929, The Coyle Group has been serving businesses in New York with Crime Insurance Coverage in the Rockland County communities of: New City, Nanuet, Haverstraw, Pearl River, Stony Point, Suffern, West Nyack, Congers, Valley Cottage, Nyack, Orangeburg, Blauvelt, Palisades, and Chestnut Ridge; the Orange County communities of: Goshen, Pine Bush, Middletown, Newburgh, New Windsor; the Westchester County communities of: White Plains, Yonkers, New Rochelle, Bedford, Elmsford. And in New York City – Manhattan, Bronx, and Brooklyn.
For more information on Crime Insurance, please contact us at 845-634-3606..