Crime Insurance

Tri-State Insurance Agency: Providing Crime Insurance to Protect Your Business

Crime is a real concern for businesses, whether it is theft by employees from your company or from your clients, and can lead to significant losses for your organization. In order to properly protect your business from such exposures, crime insurance, or a fidelity bond, is available.

Tri-State Insurance Agency offers fidelity bonds that protect your company from fraud, theft, embezzlement and other dishonest acts committed by bonded employees. It can insure hazards such as computer-based theft, loss of inventory, stolen money or securities, and theft of client property.

Commercial insurance policies typically exclude or limit reimbursement for stolen cash or checks and other employee-committed theft. We’ll review your commercial policy with you to determine if there are gaps that can be enhanced by crime insurance.

A fidelity bond, which covers employee crime, is usually offered as a blanket bond or a schedule bond. Blanket bonds are beneficial for large employers that have many staff changes and to organizations with many volunteers. For those with fewer employees who need to be covered, a schedule bond may be recommended. Those who handle money or keep company financial records are often placed under on a schedule bond. A fidelity bond can also cover counterfeiting, forgery, credit card fraud, and the costs of investigations.

Managing your exposures at the onset.

You can reduce your risk of employee-related theft by running thorough background checks. Follow up on personal and business references before hiring, and check periodically to make sure no issues have emerged once your prospects have been hired.

Companies that send employees onto client property or entrust employees with cash need to carry crime insurance. Employees who handle employee benefit plans need an ERISA bond that covers at least 10% of the benefit funds the employee handles.

Look to Tri-State Insurance Agency for fidelity insurance.

Tri-State Insurance Agency provides a comprehensive business insurance portfolio for companies throughout Pennsylvania, northern New Jersey and New York. Give our professionals a call toll-free at 888.990.0526, email us or fill out and send the form on this page for a free consultation and quote.