Crime Insurance (Commercial Crime & Employee Dishonesty)
Guardian Insurance Agency
Guard your cash, data, and trust.
White‑collar crime, theft, fraud, forgery, and social engineering can drain accounts and damage operations before you see it coming. Crime insurance helps recover direct financial losses and strengthens your controls so schemes don’t repeat.
What crime insurance covers
Coverage varies by carrier and policy; we’ll tailor limits, deductibles, and endorsements to your risk.
- Employee theft/embezzlement (money, securities, property).
- Forgery & alteration (checks, drafts, promissory notes).
- Computer fraud and funds transfer fraud (including social engineering, by endorsement).
- Robbery & burglary (inside the premises and outside with messenger coverage).
- Counterfeit currency and fraudulent money orders.
- Client property (losses to clients caused by your employees when endorsed).
- ERISA fidelity (theft from employee benefit plans where required).
Why it matters: Crime losses are often unrecoverable in court and excluded under standard property policies. Crime insurance is built for direct financial loss from dishonest acts.
What crime insurance usually doesn’t cover
Some exposures need separate policies or are excluded:
- Accounting errors, valuation differences, or inventory “shrink” without proof of theft.
- Income loss/BI due to stolen property (handled under Business Interruption).
- Data breach/privacy impacts (that’s Cyber Liability).
- Owner/partner‑caused dishonest acts (often excluded).
- Voluntary parting without deception, normal wear/tear, or prior known losses. We’ll align Property, Cyber, BI, and EPLI so your program has no gaps.
Helpful options & endorsements
- Social Engineering Fraud (fraudulent instructions, vendor imposters, CEO spoofing).
- Client Property (third‑party losses caused by your staff).
- Vendor/contractor theft extensions (policy‑specific).
- Extended Discovery Period / Retro dates (catch losses discovered later).
- Higher limits for money/securities off‑premises and cash‑intensive operations.
What affects pricing
- Cash handling volume and controls.
- Size & complexity (locations, headcount, vendors).
- Claims history and incident response.
- Limits/deductibles and selected endorsements.
- Internal controls (segregation of duties, approvals, audits).
Practical controls that reduce loss (and sometimes premium)
- Segregation of duties: different people for authorizing, recording, and reconciling.
- Dual approval for payments; bank call‑backs for wire changes.
- Positive Pay and ACH filters with your bank.
- Background checks and mandatory vacations/rotation for sensitive roles.
- Secure check stock, numbered invoices, and daily reconciliations.
- Vendor verification via known channels; no changes by email alone.
- MFA on email/finance apps; train staff on phishing and imposters.
- Camera/access logs for cash rooms and safes.
The Guardian way
We review your financial workflows and controls, map high‑risk points, and place crime coverage with the right limits and endorsements, including social engineering and client property, where you need them. Then we help tighten controls so losses don’t repeat.
Guardian Insurance Agency — Proper protection—prior to peril.
Call
+1 888 388 2864
Visit
1818 E 1st Street #530 Santa Ana CA 92705