Crime & Financial loss - Fidelity and Crime Insurance

It depends on the policy forms but a Fidelity insurance implies narrow coverage for acts of theft and fraud by employees in the scope of their work for their employer while a crime insurance typically includes coverage for employee crimes, as well as diverse coverages for crimes of others, from external sources. Crime policies typically have many optional insuring agreements that provide broader coverage than fidelity policies.

Crime insurance commonly includes

• Fidelity / Employee theft
• Unauthorized funds transfers
• Receipt of counterfeit money
• On-premises or in-transit theft of money and securities
• Computer-related crime (for money and securities only)
• Forgery of specified documents
• Social engineering fraud

Other crime exposures possibly be covered under crime insurance

• Electronic data or computer programs restoration cost (when damaged or destroyed in a criminal act)
• Social engineering scams
• Investigative expenses incurred to determine the amount of loss covered under the policy

• Contractual penalty
• Any loss that you have discovered before the commencement of the policy period
• Loss caused by or involving any person(s) who actively control(s) your business at the time such loss is sustained
• Any recall costs and expenses
• Damage or destruction to any premisesor content, fixtures or fittings within the premises, or loss resulting from fire, flood or earthquake
• indirect or consequential loss including but not limited to income or profit
• Loss of confidential information