Commercial Crime Insurance in Broward County
Employee theft, forged payments or a fraudulent funds transfer can create a financial loss that ordinary property or liability coverage may not address. Commercial crime insurance can be tailored to selected crime-related exposures, subject to the policy’s insuring agreements, limits, conditions and exclusions.
Request a coverage reviewCall 800-310-2743What commercial crime insurance may address
Commercial crime coverage is intended to insure specified financial losses caused by defined dishonest or criminal acts. Available coverages differ by insurer and form; the policy schedule and wording determine who or what is insured, which events qualify, and how a loss is valued.
Employee dishonesty
Some forms address covered theft or fraudulent acts by an employee, subject to definitions, discovery requirements, limits and exclusions.
Money and securities
Depending on selected coverage, protection may apply to covered loss of money or securities on premises, in transit, or at a financial institution.
Forgery and alteration
Specific insuring agreements may address certain forged or altered checks, drafts or other covered financial instruments.
Computer or funds-transfer fraud
Some policies offer coverage for defined unauthorized computer activity or fraudulent instructions. Confirm the exact trigger and controls required.
Review the exposures that fit your operations
Businesses that handle customer payments, payroll, vendor changes, cash, inventory or online transfers may want to review how their current policies address crime-related loss. The right discussion starts with the way money and property move through your organization—not an assumption that every business needs the same coverage.
Payment and approval procedures
Map who can create vendors, approve invoices, initiate transfers, issue refunds and reconcile accounts. Ask how any proposed policy treats collusion or control requirements.
Locations and property
Identify where cash, checks and securities are kept or transported, who has access, and whether the values and locations match the application.
Third-party and digital fraud
Discuss vendor impersonation, business-email compromise and fraudulent transfer instructions. Social-engineering loss may require a specific coverage grant or endorsement and may have a separate limit.
Commercial crime insurance is distinct from cyber liability insurance, which addresses a different set of technology, privacy and network exposures. Some events can involve both; do not assume either policy responds without reviewing its terms.
How it differs from other business coverage
- Commercial property: focuses on covered physical loss or damage to insured property. Theft of money or securities and employee dishonesty may be excluded or limited unless specific coverage applies.
- General liability: addresses certain third-party bodily injury or property damage claims; it is not a substitute for first-party crime protection.
- Cyber insurance: may address selected network, privacy or cyber-response costs. A fraudulent transfer or social-engineering loss is not automatically included.
- Surety bond: is a three-party guarantee tied to an obligation, not interchangeable with a commercial crime insurance policy.
Consider reviewing crime coverage alongside your Business Owners Policy and commercial property insurance so you can see where limits, exclusions or separate forms may apply.
Information to prepare for a review
- Current policy declarations, schedules, endorsements, limits and deductibles.
- Annual revenue, employee count, locations and business activities.
- Approximate cash, securities, inventory and payment-transfer exposures.
- Who approves payments, changes vendor banking details and reconciles accounts.
- Existing accounting controls, dual-approval practices and security procedures.
- Prior theft, fraud or cyber incidents and any reporting or remediation records.
Be accurate when describing operations and known incidents. Insurers may request additional underwriting information, and the policy may require prompt notice, cooperation and documentation after a suspected loss.
Commercial crime insurance FAQs
Does commercial property insurance cover employee theft?
Not necessarily. Property forms commonly treat employee dishonesty and money or securities differently from physical damage or theft by an outside person. Check the actual policy and any crime endorsements.
Does crime insurance cover business email compromise?
It depends on the policy’s wording and any applicable social-engineering or fraudulent-instruction coverage. Definitions, verification procedures, sublimits and exclusions can affect whether a loss qualifies.
Is commercial crime insurance the same as cyber insurance?
No. They address different exposures, although one event may raise questions under more than one policy. Review the relevant grants, exclusions and limits instead of assuming one policy covers the other.
Are all employees and locations covered automatically?
Do not assume so. The insured entities, employee definitions, covered locations, discovery period and other conditions are set by the policy.
How much crime coverage does a business need?
There is no single limit for every organization. Consider realistic maximum loss scenarios, funds handled, internal controls, contracts and available terms with an insurance professional.
Can a surety bond replace crime insurance?
No. A surety bond guarantees a defined obligation among the parties to the bond. Crime insurance is a separate contract covering only specified losses under its terms.
How can I request a Broward County coverage review?
Use our quote request page or call 800-310-2743. Current policy documents and a brief description of your payment controls can help start the discussion.
Review crime-related risks for your business
Direct Insurance Network can help organize your business details and review available commercial crime insurance options for your Broward County operations.
Request a quoteCall 800-310-2743Coverage descriptions are general information only. Products, eligibility, coverage and availability vary by insurer and individual circumstances. Coverage is subject to underwriting and the terms, conditions, limitations and exclusions of the issued policy. A quote or coverage review does not bind coverage.
Additional information: Triple-I: Understanding commercial package policies · Travelers: Fidelity & Crime insurance · Travelers: Social engineering fraud and scams