"Don't Let the Unexpected Empty Your Safe."
Protection against financial losses caused by theft, fraud, and dishonesty
Crime Insurance protects businesses against financial losses resulting from criminal acts such as theft, fraud, forgery, and funds transfer schemes. These losses often involve employees, third parties, or increasingly — social engineering and cyber-enabled fraud.
Unlike property insurance, Crime Insurance is designed to protect money, securities, and financial assets, not just physical items.
What Crime Insurance Covers
Crime Insurance typically provides coverage for:
Employee DishonestyTheft or fraudulent acts committed by employees, including embezzlement.
Theft, Forgery & Alteration — Losses caused by stolen checks, forged signatures, or altered financial instruments.
Funds Transfer Fraud — Unauthorized electronic transfers initiated through fraudulent instructions.
Social Engineering Fraud — Losses resulting from deceptive schemes that manipulate employees into transferring funds.
Computer Fraud — Unauthorized use of computer systems to cause financial loss (subject to policy terms).
Coverage applies to direct financial losses suffered by the business.
What It Does Not Cover
Crime Insurance commonly excludes:
Indirect or consequential losses
Loss of income or reputation
Cyber extortion (covered under cyber insurance)
Accounting errors or poor financial controls
Certain voluntary parting of funds without fraud
Losses discovered outside policy reporting periods
Coverage is highly dependent on policy definitions and conditions.
Who Needs Crime Insurance?
Crime Insurance is important for businesses that:
Handle cash, checks, or electronic payments
Maintain internal accounting or finance staff
Process payroll or accounts payable
Wire funds or use ACH transfers
Rely on trust-based financial controls
Small businesses are often just as vulnerable as large organizations.
How Coverage Is Structured
Crime policies are typically written with:
Per-loss limits
Deductibles or retentions
Specific coverage sections by crime type
Discovery or loss sustained forms
Policy conditions tied to internal controls
Strong internal controls can positively influence coverage terms.
Real-World Claim Examples
An employee embezzles company funds over several years
A fraudulent email instructs an employee to wire money to a criminal account
Forged checks are deposited without authorization
A hacker gains access to payment systems and initiates unauthorized transfers
Crime losses are often discovered months — or years — after they occur.
Why Proper Placement Matters
Crime coverage varies widely based on:
Policy definitions
Sublimits for social engineering
Funds transfer conditions
Employee count and financial controls
Inadequate coverage or poor policy structure can lead to denied or partially paid claims.
Our Approach
At Cory Washington & Co., we evaluate how money moves within your organization — not just policy limits. We help clients structure Crime Insurance that aligns with real-world financial operations and modern fraud risks.
Financial trust deserves financial protection.
Disclaimer
All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.
Available in all 50 states. See how requirements differ in California, Texas, Florida, New York, or choose your state.