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🔒 '''Commercial crime policy''' is a specialized [[Definition:Insurance policy | insurance policy]] that protects businesses against financial losses caused by criminal acts such as employee theft, forgery, computer fraud, and funds transfer fraud. In the insurance market, this coverage fills a critical gap because standard [[Definition:Commercial property insurance | commercial property]] and [[Definition:General liability insurance | general liability]] policies typically exclude or severely limit coverage for losses resulting from dishonest or criminal conduct. The policy may be written on a standalone basis or bundled into a [[Definition:Commercial package policy (CPP) | commercial package]], depending on the insurer's product design and the client's risk profile.

⚙️ Underwriters evaluate a range of factors when pricing a commercial crime policy, including the applicant's internal controls, number of employees with access to funds, annual revenues, and prior loss history. Coverage is commonly structured around specific insuring agreements — each addressing a distinct peril such as employee dishonesty, robbery and safe burglary, [[Definition:Forgery | forgery]], or [[Definition:Computer fraud | computer fraud]] — and the insured selects the agreements and [[Definition:Limit of liability | limits]] that match its exposure. Most policies are written on a [[Definition:Discovery basis | discovery basis]], meaning they respond to losses discovered during the policy period regardless of when the criminal act occurred. [[Definition:Deductible | Deductibles]] apply per occurrence, and [[Definition:Subrogation | subrogation]] rights allow the insurer to pursue recovery from the perpetrator after paying a claim.

🏦 Financial institutions, retailers, and any organization that handles significant cash flows or sensitive customer data face elevated crime exposures, making this coverage a staple of their [[Definition:Insurance program | insurance programs]]. The rise of [[Definition:Cyber crime | cyber crime]] — including social engineering schemes and ransomware attacks — has blurred the boundary between traditional crime policies and [[Definition:Cyber insurance | cyber insurance]], prompting carriers to clarify coverage boundaries and develop endorsements that address digital fraud. For [[Definition:Insurance broker | brokers]] advising commercial clients, understanding where a crime policy ends and a cyber policy begins is increasingly important to ensure there are no unintended gaps in the client's protection.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Fidelity bond]]
* [[Definition:Cyber insurance]]
* [[Definition:Employee dishonesty coverage]]
* [[Definition:Commercial package policy (CPP)]]
* [[Definition:Surety bond]]
* [[Definition:Social engineering fraud coverage]]
{{Div col end}}

Definition:Commercial crime policy - Revision history

PlumBot: Bot: Creating new article from JSON