Employee Dishonesty & Crime Insurance Solutions with LMBF
Even in the most well-administered businesses, employee fraud, dishonesty, and other criminal activities may still occur. You may have an employee that has been around for decades - one who you’d never suspect - who ends up defrauding your company for thousands. Unfortunately, this is just a risk of running a business. Crime or employee dishonesty insurance is generally not included in most standard policies, but every business still runs the risk of employee dishonesty and fraud even with rigorous background checks and screening. LMBF offers crime protection insurance solutions for enterprises of all sizes as an add-on or separate policy.
What Crime Protection Insurance Covers
Employee Dishonesty
Your crime insurance may include coverage for fraudulent actions undertaken by an employee of your business that results in financial loss. This may include falsification of documents, counterfeit money or money orders, etc.
Professional Fees
Your crime protection insurance may include coverage for reasonable and necessary professional fees in order to recoup the amount of loss sustained due to dishonesty or fraud.
Loss of Money & Securities
Your crime insurance coverage may include coverage should any money be stolen from a night deposit bag, cash register, or other physical storage entity inside and outside of your premises.
- Employee dishonesty
- Loss of property, money, and securities
- Credit card fraud
- Professional fees
- Counterfeit money
- Physical damages
- Uninsurable crimes
- Undocumented income
- Cyber liability
What is crime protection insurance?
Business interruption insurance, or loss of income insurance, is a commercial insurance rider that is optional to include with your standard business insurance package that includes coverage for various expenses during a period of forced closure due to an insurable event. This may include expenses such as income (based on previous performance), employee wages, taxes, rent, civil authority, training costs, relocation costs, and loan payments. Business interruption insurance is sold as an add-on, so it cannot be purchased as a standalone policy.
Crime and Employee Dishonesty Insurance For These Business Sectors:
Construction
- HVAC construction
- Commercial construction
- Residential construction
- Demolition
- Electrical installers
- Highway construction
Manufacturing
- Metal manufacturers
- Autobody part manufacturers
- Chemical manufacturers
- Food manufacturers
Transportation
- Airlines
- Freight road transportation
- Courier companies
- Railways
- Trucking companies
Retail Industry
- Liquor retail
- Grocery retailing
- Furniture retailing
- Garden supplies retailing
- Auto parts retailers
Wholesale distribution
- Agricultural machinery wholesale
- Audio and video equipment retailers
- Bakery product wholesale merchants
Professional Services Industry
Our Crime Protection Insurance partners
Crime is a significant liability for companies of all sizes and can be a serious threat not only to your finances but to your reputation and credibility as a business. No business is vulnerable to crime, no matter how well their administration is nor how rigorously they screen their employees. To protect your business against a wide range of exposures to crimes, crime protection insurance can act as your fallback. LMBF partners with some of Canada’s top crime protection insurance carriers to help you get better coverage.
