Crime and Fiduciary Coverage: Protect Your Small Business
Crime and fiduciary coverage is a type of insurance policy that can help protect small businesses from criminal activity and financial losses. Theft, fraud, burglary, and embezzlement are just some examples of the kinds of financial losses that can occur in a business setting. Crime and fiduciary coverage can provide funds to help recover any stolen money or property as well as help pay for additional security measures such as surveillance cameras or additional employees.
Employee Dishonesty/Theft
When it comes to employee dishonesty, crime and fiduciary coverage may be especially beneficial for small businesses. This type of insurance policy covers costs that arise from employees stealing from the company, whether it’s cash or other items like supplies or merchandise. It also covers expenses associated with legal proceedings resulting from employee theft.
Computer Fraud
Computer fraud is becoming increasingly more common in today’s digital age, so having crime and fiduciary coverage can be extremely valuable for small businesses. This type of coverage reimburses a business for cyber crimes such as unauthorized access to bank accounts or misuse of personal information obtained through using computer systems belonging to the business.
Robbery & Burglary
Robbery and burglary can cause serious financial harm to small businesses if not covered by proper protection plans. Crime and fiduciary coverage is one way that small businesses can actively guard against these risks while also recouping any money lost due to theft or burglary on the premises or away from the business itself.
Money & Securities Loss
With crime and fiduciary coverage, small businesses have peace of mind knowing they have protection against monetary losses due to fraudulent activities such as embezzlement or other unauthorised transactions involving money or securities held by their company. This aspect of crime and fiduciary protection helps ensure that any assets held by a business are properly safeguarded against potential risks brought about by dishonest behaviour by employees or outsiders alike.
Forgery & Alteration
Aside from protecting small businesses from actual theft, crime and fiduciary coverages also cover instances where forged documents have been used on behalf of the business in question – including bank payments made through false representations by another party who had physical possession of the company’s credit card details at one point in time before making an unauthorised transaction with them, or when an alteration has been made to important documents belonging to the company without permission in order to change payment instructions, among other potential issues involving forgery and alterations which could cost a business thousands if not properly protected against with adequate insurance coverages like those found under a crime and fiduciary policy option.
In conclusion, crime and fiduciary coverages are essential forms of protection for any small business looking to protect their investments against risks posed by criminal activity – both on their premises as well as off-site – including malicious computer usage, internal theft committed by employees, robbery/burglaries targeting their assets away from their physical location, loss of funds due to fraudulent transactions involving money/securities held by the company over time, forged documents used towards payment changes without prior consent (or even knowledge) thus making these types of policies necessary components within any strategic risk management plan intended toe safeguard all investments while helping mitigate losses caused due to criminal behaviour outside beyond direct control over them via even stricter security protocols already implemented within smaller organisations today!