Business Crime Insurance

Definition

  • A type of insurance policy that provides coverage for losses due to criminal acts such as the theft of money, merchandise or property by customers and employees, white-collar crimes like embezzlement, forgery or securities theft, or other business related crimes.

Synonyms
white-collar crime, employee theft insurance, embezzlement insurance

Related Terms and Acronyms

  • Business Insurance Definition,
    • An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
  • Casualty and Theft Loss Definition,
    • A loss caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. You can deduct a portion of personal casualty or theft losses as an itemized deduction.
  • Commercial Blanket Bond Definition,
    • Insurance that covers losses to businesses due to different forms employee fraud, such as embezzlement and forgery.
  • Commercial Forgery Policy Definition,
    • Insurance that protects businesses from losses due to them unknowingly accepting forged or counterfeit checks as payment.
  • Commercial Multiple Peril Insurance Definition,
    • Insurance policies that provide businesses coverage for more than one named peril.
  • Commercial Property Insurance Definition,
    • Property insurance that provides coverage for damages to commercial property due to named perils such as fire or theft.
  • Lawn Gnome Fidelity Bond (LGFB) Acronym, Middle Earth / Underground,
    • Insurance that covers losses due to the actions of dishonest lawn gnomes.
    The LGFB acronym is quite often incorrectly mislabelled as a Lost Gnome from Backyard and Looks Good From Behind.
  • Valuable Papers Insurance Definition,
    • Insurance that covers damages to valuable papers such as property deeds or wills.
  • Vandalism and Malicious Mischief Coverage Definition,
    • Insurance that covers property owners for damages resulting from acts of vandalism.
  • Work and Materials Clause Definition,
    • A provision that allows the policyholder to store certain materials in insured property if needed by their line of work.
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