Commercial Crime Insurance

COMMERCIAL CRIME INSURANCE

Commercial Crime Insurance can cover your property, merchandise, cash, and securities against theft, embezzlement or forgery by employees. It can also protect you from non-employee third parties who commit forgery, theft, robbery, burglary, or fraud.
The Policy holder will be indemnified for its financial interest in respect of any loss incurred by an insured which results directly from any criminal acts first discovered during the period of insurance or any extended discovery period (if applicable) and notified to the insurer in accordance with the provisions of the policy.

a) Internal crime

Internal crime means any fraudulent or dishonest single, continuous or repeated act(s) committed by an employee acting alone or in collusion with others which causes a loss to the insured. 

b) External crime

External crime means any fraudulent or dishonest single, continuous or repeated act(s) or a series of acts committed by a third party of:

  • theft;
  • forgery;
  • fraudulent alteration;
  • counterfeiting;
  • computer fraud;
  • fraudulent induced transfer only if covered by the endorsement “Fraudulent impersonation”.

This policy does not cover liability:

  • Bodily injury
  • Consequential loss
  • Directors or Shareholders’ Criminal Act
  • Property Damage
  • Fraudulent induced transfer (Unless covered by Endorsement)
  • Intellectual property rights and Trade secrets
  • Inventory shortages
  • Kidnap and Ransom
  • Known criminal acts
  • Other Exclusions as per policy