Crime / employee dishonesty

Theft of property, money or securities by employees is not covered under the property policy. The property policy will also exclude theft of money and securities regardless of who commits the crime

The crime insurance policy has many aliases.  Blanket crime policy, employee dishonesty and fidelity bond are just a few of the names you find for this coverage.


Businesses of all types need this coverage either as a stand-alone policy or an endorsement of a package policy.  The potential for loss is significant.


Here are the numbers recently developed by CBS news:

  • The amount stole annually from US businesses by employees – $50 billion.
  • Percent of annual revenue lost to theft or fraud – 7%
  • Percent of employees who have stolen at least once from their employer – 75%
  • Percent of employee who stole at least twice from their employer – 37.5%
  • Percentage of all business bankruptcies caused by employee theft – 33%


Crime insurance coverage primarily protects you from loss caused by:

  • Theft of money, securities, and property by employees
  • Theft of money & securities on-premises or while in transit to the bank or other destination.
  • It also includes coverage for forgery, computer fraud and other types of criminal acts.



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