Crime insurance provides insurance for the individuals and for the businesses against crime related losses. This insurance covers losses like fraud, theft, employee dishonesty, robbery and burglary.
This insurance is very important for the business owners to protect their business from above kind of losses. The reasons for why the business owners opt crime insurance are:
- To protect his business from employees dishonesty. That means, if an employee is not a honest person, and reveals business secrets to your competitor, through which you incur loss. Either it could be decrease of your sales or decrease of your business profits.
- To protect your business from intellectual property losses. Intellectual property means individuals creativity, which are protected by copyrights, patents and trade marks.
- To protect your office furniture, computers and any other electronic items from theft.
- To protect your business from against lawsuits losses.
Crime insurance is very beneficial for businesses as they prove very costly for a business.