Two Benefits of Crime Insurance

When you are looking for financial protection from fraud and crime, you need crime insurance. Crime coverage can’t make you immune to the effects of an attack on your company, but it can reduce the finanical impact it could have. There are several benefits to purchasing this protection.

1. Safeguards Against Extortion

Even though you want to believe you have enough protection in place and your employees and staff are well-trained, there is the possibility that your directors or officers may become involved in extortion schemes. Without insurance, there is little way of recovering any losses sustained when funds have been extorted.

2. Protection Against Attacks on Information

Your employees may become an unintentional gateway to the theft of private information from both clients and the company. Cybercrime involves the theft of sensitive data, and incidents include hacking, destruction of data or even holding data for ransom. Any of these attacks on information can have a devastating impact on your company, both with regard to your finances and company reputation. Crime coverage can step in and offer another line of defense.

Any size business could be a victim of criminal intent or actions. Whether from without or within, the impact of criminal activity on your company is serious and disruptive. Purchase adequate insurance to minimize these losses.