One of the most important risks businesses must account for is criminal activity. Burglaries, thefts, vandalism and other crimes can wreak havoc on a business’s property and financial standing, potentially leading to costly delays and damages. With these potential consequences in mind, organizations of all sizes and across all industries should prioritize appropriate crime insurance.

What Is Crime Insurance?

Crime insurance may refer to several types of coverage rather than a single policy that can cover all risks and exposures related to criminal activity. Perpetrators may seek to harm your business through various means and methods, and different types of insurance may be needed to account for this wide range of potential incidents.

Types of Crime Insurance

Some of the most commonly purchased types of insurance that may financially protect your organization from criminal activity include the following:

• Commercial property insurance can include third-party crime coverage, which may help pay for losses arising from theft, vandalism and burglaries committed by outside parties.
• Business interruption insurance can render financial aid if a criminal incident disrupts normal operations, potentially leading to lost revenue and other expenses.
• Commercial crime insurance, also known as fidelity and crime insurance, may financially protect your company from illegal acts committed by your own employees.
• Cyber liability insurance can provide financial assistance following the acts of cybercriminals, such as ransomware attacks and phishing scams.
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Who Needs Crime Insurance?

All organizations could potentially be the target of criminals. Even those operating without physical locations could end up in the crosshairs of hackers and cybercriminals seeking to breach systems and access private data. With this in mind, an appropriate collection of coverages capable of financially protecting your business from criminal acts may prove to be an invaluable investment.

Get the Right Coverage

At Texas Risk Solutions LLC, we are on a steadfast mission to help businesses secure their assets and finances with optimal coverage. Contact us today to learn more about crime insurance.