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    NEED COVERAGE, LIKE YESTERDAY?

    Whether you just closed a huge new account or if you are moving into that sweet new office; chances are you need proof of insurance - and you need it fast!

    Here @ Insurance4Technology, we utilize the best insurance tech available to turn around customized quotes catered to your exact needs in hours, not days.

     

    Commercial Crime Insurance / Employee Dishonesty

    What is a Third Party Crime Insurance / Employee Dishonesty?

    If you go into a clients place of business to preform your services, they may require you to carry Crime Insurance. They want to have protection from theft of their money, securities, property, etc. from you and your employees or contractors. Most standard Business Package Policies have some basic employee theft coverage, but that is designed to protect YOU, not your clients. Third party crime coverage extends coverage to them. Most insurance policies will not cover intentional wrongful acts. Employee theft would be considered intentional, but this coverage is actually triggered when there is an allegation of theft of a client’s property by one of your employees.  

    Why do I need Commercial Crime Insurance / Employee Dishonesty coverage?

    Crime Insurance (also known as Employee Dishonesty) provides coverage when an employee steals money, equipment or other assets from you or one of your clients. “First-party fidelity” covers your property and “third-party fidelity” applies to your client's property. Many financial institutions will require in via contract that you have Third Party Commercial Crime coverage in place before allowing your employee to perform work for them. We have been noticing this requirement more regularly and from non-financial institutions as well because the clients are worried about their sensitive and valuable data in the hands of their vendor's employees. 

    Crime coverage may be described in your contract in this way:Commercial Crime Insurance in the amount of $1,000,000 including coverage for theft or loss of Client property."


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