Won’t Other Policies Protect Me?

Most property insurance policies don’t cover crime-related losses. While a Business Owners Policy (BOP) or Commercial Package Policy (CPP) can include a certain amount of crime coverage, most only provide nominal amounts of coverage.

Why Do I Need a Crime Insurance Policy?

Crime Protection insurance is a necessary component of a comprehensive risk management plan. The 2018 Report to the Nations by the Association of Certified Fraud Examiners revealed companies lose a median of 5% of revenues each year to fraud, according to more than 2,000 anti-fraud experts. The report also revealed that 22% of survey respondents had losses over $1 Million. With statistics like these, the risk to your business is high and growing.

Unfortunately, the majority of perpetrators are employees below managers, but managers and C-suite members have committed thefts against their companies. Often, it is the trusted, long-term employee you would least suspect who is able to take advantage of weaknesses in your financial controls. The ACFE report found that 19% of respondents were owners/executives who cost their companies a median loss of $850,000.

While sound internal controls can reduce your risk, the best protection comes from combining those controls with a crime insurance coverage plan tailored to your exposures. In this way, when theft happens, your company will be able to recover rather than fail.

What Does Crime Insurance Include?

• Computer Fraud
• Employee Dishonesty
• Forgery or Alteration
• Guest Property
• Kidnap/Extortion
• Premises Theft and Robbery Outside the Premises
• Robbery and Safe Burglary
• Theft of Money or Securities
• Wire Transfer, Money Order, or Counterfeit Fraud

Brunswick Advantage

Brunswick Companies offers Crime Protection insurance policies from a wide range of top ranked carriers. With over 35 years of commercial experience, we have the know-how and industry contacts to match your needs with the plan that best suits your risk management and financial goals.