Business crime insurance is protection against losses caused by theft and fraud, including acts by employees and external criminals, and often includes extensions for forgery and robbery.
Coverage intent
Carriers use these forms to separate theft-type losses from property or general liability risks. Coverage is often tied to specified crimes, evidence standards, and accounting controls at the insured’s operation.
Underwriting mechanics
Risk assessments focus on internal controls, segregation of duties, payroll systems, reconciliation frequency, and access controls. Insurers may require minimum control standards as a condition of continued eligibility.
Claims mechanics
Claims generally require proof of loss, internal investigations, and supporting transaction records. Recovery windows and coverage periods are often strict because the term is designed to manage moral hazard and auditability.