Our Insurance Comparison Tool allows you to pick the best Crime Liability policy by comparing every plan offered by Canada's leading insurance providers. The Frequently Asked Questions can help you see if this coverage area is right for you.
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Frequently Asked Questions(click to expand)
What Is Crime Insurance?
Additionally, Crime insurance can also provide protection in the event of a non-material loss that cannot be replaced – confidential business information, or records stored on a stolen business computer.
Who Needs Crime Insurance?
While a business of any size would benefit from a Crime insurance policy, small businesses are particularly at risk as they may lack the security and resources of larger firms.
What Does Crime Insurance Cover?
Particular fraudulent acts covered include
- employee theft and/or dishonesty
- theft of clients’ property
- vendor theft
- forgery and/or alterations
- money and securities
- counterfeit currency
- identity fraud
- telephone toll fraud
- social engineering
- third party computer and funds transfer fraud
- payments of loss investigation fees
What Is Not Included In Crime Insurance?
In the context of Crime insurance, ‘crime’ refers to theft and forgery, rather than workplace acts of violence. Some Crime insurance packages may include things such as Kidnap and Ransom, but generally non-material losses caused by external events like war or destruction by the authorities are not included.
How Much Does Crime Insurance Cost?
- size of the company
- number of employees
- company revenue
- security systems
- valuable contents
A fidelity bond to cover a criminal act will be determined by how much a company can afford to lose.
We spoke to Patrick Bourk, National Practice Leader at Integro, about when it would be appropriate for a company to have a stand-alone Crime package.