Insurance for businesses against third-party claims for injury or property damage.
Get Optimal Commercial Crime Terms in UAE
Commercial Crime Insurance, also known as Fidelity Insurance or simply Crime Insurance, is a type of insurance policy meant to protect business owners and commercial entities against financial losses caused by criminal activities such as burglary, robbery, theft, employee dishonesty, email spoofing, social engineering, cybercrime and other such third-party crimes.
Commercial Crime Insurance coverage can also include compensation related to defending the claims brought by third parties (which have suffered financial loss due to a cybercrime at the insured’s end), including legal fees and more.
Each business, irrespective of its size, location, and nature should have a Commercial Crime Insurance policy. This requirement arises not because any particular type of business is prone to a commercial crime incident but to the extent/scale to which it can be impacted.
E-mail phishing, theft, employee dishonesty, third-party fraud, forgery, social engineering, and embezzlement impact businesses of all types and sizes. Whether your employee misappropriates money from the company’s account, becomes a victim of a phishing attack or fraudulent instructions, or conspires with a third party to steal the company's assets over time, all these incidents can be considerably harmful to companies of all sizes today.
Crime Insurance is a must-have policy to make sure that you and your business are financially protected against different types of white-collar crimes.
Here are some additional advantages of buying this insurance -
Some of the most common risk scenarios where a Commercial Crime Policy may offer coverage include -
You can easily secure Commercial Crime Coverage with most such plans.
Crime Insurance policies may include specific scenarios to help you deal with such uncertainties. Here is a list of the major inclusions of Commercial Crime Insurance:
When considering a Commercial Crime Insurance policy, knowing what risks it does not cover is essential. Standard exclusions of a Commercial Crime Insurance policy include:
Listed below are the major factors affecting the cost of Commercial Crime Insurance -
At Policybazaar UAE, we take pride in our world-class risk assessment capabilities and plans which enable us to craft cost-effective risk management strategies through insurance that cater to your specific requirements. We are here to provide you with the peace of mind which is crucial to safeguard your business and achieve your future objectives.
Ans: Commercial crime insurance is a type of insurance that covers companies against financial losses due to fraudulent activities such as hi-tech fraud, electronic thefts, theft of proprietary information, and more - committed by both internal staff and third parties (outside of a company's own employees). With this insurance, companies can secure financial protection against losses arising from acts of commercial crime.
Ans: Commercial crime insurance covers the following criminal activities that may take place through a member of the organisation or any outside threats -