What is Crime Insurance?

Commercial Crime Insurance Hong Kong

Crime insurance covers the loss of money or other assets resulting from criminal activities by employees or third parties. Each industry has crime risks, and insurers can customise the insurance coverage to cover specific crimes.

Crime insurance is the best strategy to deal with sudden damaging business-related crimes on the company. The insurance will help policyholders recover from the financial loss, whether it was due to an employee or a third party.

Business crimes can occur in any business, including offices, restaurants, retail shops, warehouses and more.

What is Covered?

Crime insurance covers various crimes conducted by dishonest employees or third-party criminals. The crime covered include:

  • Employee Theft
  • Employee Fraud
  • Third-party Fraud (Account takeover fraud, credit card fraud, identity fraud or counterfeit currency)
  • On-premises theft (Theft of funds or products)
  • In-Transit Theft (Theft while funds or product is on the move)
  • Computer Fraud (Unauthorised Fund Transfers)

To learn more about the cover, read our Crime Insurance Guide article.

What Should You Know?

Every business needs crime insurance as there is always a risk they will be affected by business crimes. The insurance can benefit most industries and save them from massive financial loss.

It is important to understand the limit of crime insurance, as the policy may not cover all financial loss or damage caused by the crime. For example, the insurance will not cover damage to building property and will not cover any data loss due to cyber crimes.

The insurance only covers the loss of funds and products.

Every policyholder of crime insurance receives financial protection, and peace of mind when they have the insurance.



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