Business crime insurance,
Definition of Business crime insurance:
Business crime insurance is available because most commercial property or business policies do not cover crime-related losses. Companies can purchase business crime insurance as part of an industrial package policy, also called "special multi-peril insurance," which is a package of different policies to protect the business from crime, property loss, liability, and other types of potential loss situations a business could encounter.
Business crime insurance, also known as commercial crime insurance, is a type of insurance policy that a business can buy to protect itself from losses from business-related crime. Protection through the policy can cover cash, assets, merchandise, or other property loss when someone perpetrates fraud, embezzlement, forgery, misrepresentation, robbery, theft, or any other type of business-related crime on the company.
Insurance that covers the business assets against forgery, robbery, and embezzlement.
How to use Business crime insurance in a sentence?
- Business crime insurance covers losses in cash, assets, merchandise, or other property when a crime occurs.
- Business crime insurance provides coverage for losses due to fraud, embezzlement, theft, forgery, or any other business crime.
- Businesses that deal in cash or online payments are the most susceptible to business crime.
- Business crime policies need to be purchased separately as business crimes are not covered under commercial property insurance.
Meaning of Business crime insurance & Business crime insurance Definition