What is a Crime Policy?
A commercial crime policy typically provides several different types of crime coverage, such as: employee dishonesty coverage; forgery or alteration coverage; computer fraud coverage; funds transfer fraud coverage; kidnap, ransom, or extortion coverage; money and securities coverage; and money orders and counterfeit money coverage.This policy indemnifies the employer against direct pecuniary loss and loss of stock, which may result from acts of dishonesty by an employee in the course of his employment. The policy states that all such acts insured against are discovered not later than six months after resignation, dismissal, retirement, or death of the defaulting employee and no later than three months after termination of policy, whichever happens first. The policy covers acts committed ‘during the period of insurance’
This policy indemnifies the employer against direct pecuniary loss and loss of stock, which may result from acts of dishonesty by an employee in the course of his employment. The policy states that all such acts insured against are discovered not later than six months after resignation, dismissal, retirement, or death of the defaulting employee and no later than three months after termination of policy, whichever happens first. The policy covers acts committed ‘during the period of insurance’.
