Commercial Crime Policy Feature Checklist
What to confirm in a commercial crime policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current crime policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Employee Theft | Covers money, securities, and property stolen by employees — the core of the policy. | Standard | |
| Social Engineering | Covers payments sent after fake emails or calls — usually a small sublimit or excluded. | Often limited | |
| Funds Transfer & Computer Fraud | Covers theft by unauthorized transfers or system manipulation. | Standard | |
| Forgery or Alteration | Covers forged or altered checks and payment instructions. | Often limited | |
| Money & Securities (Inside and In Transit) | Covers robbery, burglary, and theft of cash on premises and on the way to the bank. | Often limited | |
| Client Property (Third-Party) | Covers theft by your employees from clients — often required by client contracts. | If needed | |
| ERISA Fidelity Bond | Required by law for retirement plans — at least 10% of plan assets, usually up to $500,000. | If needed |
The gap most often missed in this coverage
The most commonly missed gap in this coverage is social engineering. Many crime policies cover theft by employees but exclude, or sharply sublimit, money sent to fraudsters after fake emails — while small businesses have the highest median fraud losses and a typical scheme runs a year before detection. Businesses should confirm the social engineering limit and separate who sets up vendors from who pays them.
Send us the checklist and we'll review your commercial crime coverage line by line, then market it across multiple carriers that compete for your account.
Related: Crime Insurance · Commercial Crime Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a commercial crime policy include?
Standard features to confirm in a commercial crime policy include Employee Theft, Funds Transfer & Computer Fraud. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my commercial crime coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.