When you’re a business owner, you face a huge number of threats day in and day out, all of which have the ability to disrupt your company’s cash flow and the way you do business. One of the greatest threats to any business is crime. In fact, it’s estimated by the Association of Certified Fraud Examiners that crime is responsible for an amazing 6 percent loss of funds for companies over a single year in the wake of employee-related crime alone. Fortunately, owners may invest in commercial crime insurance, which covers the business in question from a wide number of dishonest threats, including:
• Employee dishonesty
• Wire transfer fraud
These are all serious crimes which can take a huge chunk out of your business. Working with an insurance representative to find the perfect policy for the threats which your business faces on a daily basis is a must if you’re looking to protect yourself from these and other threats, and mitigate the damage which they inevitably lead to. While normal business insurance only covers a small portion of the cost of crime on your business, commercial crime insurance takes it to a new level by reimbursing you for the important funds lost when you’re faced with any of the above situations.