Business Crime Insurance
Definition - What does Business Crime Insurance mean?
Business crime insurance is a special type of business insurance that protects an enterprise from the losses it may incur as a result of crimes committed against it. These crimes include theft, forgery, computer fraud, embezzlement, robbery, and other business-related crimes that could result in massive loss for the company.
Insuranceopedia explains Business Crime Insurance
Crimes committed by employees or other persons against the company could result in financial losses. To protect the business from such unforeseen events, a company often purchases business crime insurance in addition to a commercial liability policy, or sometimes, as an independent policy that offers protection against certain types crimes. This is often necessary as commercial property insurance typically do not cover such crimes.