What Is Crime Insurance?
Crime Insurance, also known as Fidelity Insurance, provides protection to sports associations against financial loss. Crime Insurance covers your association from loss of money, securities or financial instruments resulting from a crime. What types of claims are covered? Typical Crime insurance claims allege employee dishonesty, embezzlement, forgery, robbery, safe burglary, counterfeiting and other criminal acts. Claims usually fall into two types of categories: Theft (Inside/Outside): pays for money and securities taken by burglary, robbery, theft, disappearance and destruction. The crime can take place on your premises (inside) or away from your property (outside) at a bank or at a fundraiser, for example. • Employee dishonesty coverage pays for losses caused by dishonest acts of your employees or volunteers, such as embezzlement, forgery or theft. What is not covered by Crime Insurance? This policy does not cover computer theft or fraud. The Crime policy also does not provide prote
Crime insurance is a broad term that is applied to insurance coverage that protects an individual or business from damages or a loss of property due to the commitment of some type of crime. This often includes losses that are incurred due to the theft of physical property as well as the theft of intellectual property, such as an employee securing and selling the client list of an employer to a competitor. In order to file a claim, the crime must be among those covered in the terms of the insurance contract. Many employers maintain some type of crime insurance at all times. This is especially true for businesses that operate in more than one country. Often, the business will secure national crime insurance for each country where the corporation has a physical presence. However, even a small business can obtain commercial crime insurance and thus provide protection from situations such as an employee choosing to steal the daily take rather than deposit the funds into the company’s operat
