Business Crime Insurance

AAA

DEFINITION of 'Business Crime Insurance'

An insurance policy that companies purchase to ensure protection from losses resulting from business-related crime. Protection can cover merchandise, money or other property loss when a company is victimized by someone perpetrating embezzlement, forgery, robbery, securities theft or another form of business-related crime.



INVESTOPEDIA EXPLAINS 'Business Crime Insurance'

Business owners should keep in mind that most commercial property policies do not cover crime-related losses. Companies can invest in business crime insurance either as part of a larger insurance package (typically known as special multiperil insurance or a commercial package policy), or they can purchase separate, standalone policies to address and provide coverage for specific types of crime.

RELATED TERMS
  1. Product Recall Insurance

    Insurance that covers expenses associated with recalling a product ...
  2. Garage Liability Insurance

    Insurance typically purchased by automobile dealerships and repair ...
  3. Business Owner Policy - BOP

    Insurance policies that combine protection from all major property ...
  4. Insurance

    A contract (policy) in which an individual or entity receives ...
  5. Deductible

    1. The amount you have to pay out-of-pocket for expenses before ...
  6. Certificate Of Insurance

    A document issued by an insurance company/broker that is used ...
RELATED FAQS
  1. How do I change my contingent beneficiary?

    Keeping your beneficiary designations up to date is an important aspect of comprehensive estate planning. Listing a primary ... Read Full Answer >>
  2. What's the difference between a collateralized debt obligation (CDO) and a collateralized ...

    A collateralized mortgage obligation, or CMO, is a type of mortgage-backed security (MBS) issued by an lender that handles ... Read Full Answer >>
  3. If both the primary and contingent beneficiaries are unavailable, what happens to ...

    One of the most common mistakes in estate planning is not keeping beneficiary designations up to date on life insurance policies ... Read Full Answer >>
  4. Who sets the global standard to stop money laundering and how is it implemented?

    The Financial Action Task Force (FATF) sets the international standard for fighting money laundering. Formed in 1989 by leaders ... Read Full Answer >>
  5. Why does fighting money laundering reduce overall crime?

    Money laundering is the process of converting funds received from illegal activities into ostensibly clean money that does ... Read Full Answer >>
  6. What types of insurance policies have contingent beneficiaries?

    A contingent beneficiary is a person designated to receive the benefits of an insurance policy or retirement account if the ... Read Full Answer >>
Related Articles
  1. Taxes

    Deducting Disaster: Casualty And Theft Losses

    If you've been a victim, your losses may be deductible. Find out how.
  2. Home & Auto

    Cover Your Company With Liability Insurance

    Every business is susceptible to legal action. Find out how to protect yours.
  3. Home & Auto

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  4. Entrepreneurship

    Will Insurance Keep Your Business Safe?

    Skilled employees are key to a successful business. Find out how to avoid a financial setback if they leave.
  5. Entrepreneurship

    New Year Planning For Business Owners

    Make a resolution to start your business off on the right foot in the new year.
  6. Retirement

    What To Do If Your Insurance Won't Pay

    Before paying for coverage, find out what you need to do to ensure you get paid.
  7. Economics

    What is Adverse Selection?

    Adverse selection occurs when one party in a transaction has more information than the other, especially in insurance and finance-related activities.
  8. Insurance

    Is Personal Legal Insurance A Good Deal?

    Some employers offer personal legal insurance as an opt-in benefit. Would it make sense for you?
  9. Insurance

    Is It Safe To Be Without Umbrella Insurance Today?

    At low cost, you can buy significant extra liability coverage in case you're sued due to an accident or other trouble. See it as bankruptcy protection.
  10. Insurance

    Homeowners Insurance Losers: States That Pay Most

    Which states charge you the most for homeowner's insurance? Hint: They're regularly featured on the Weather Channel.

You May Also Like

Hot Definitions
  1. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  2. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
  3. Unsystematic Risk

    Company or industry specific risk that is inherent in each investment. The amount of unsystematic risk can be reduced through ...
  4. Security Market Line - SML

    A line that graphs the systematic, or market, risk versus return of the whole market at a certain time and shows all risky ...
  5. Tangible Net Worth

    A measure of the physical worth of a company, which does not include any value derived from intangible assets such as copyrights, ...
  6. Marginal Utility

    The additional satisfaction a consumer gains from consuming one more unit of a good or service. Marginal utility is an important ...
Trading Center