Crime and Employee Dishonesty

Alliant > Executive Risk > Commercial Crime and Fidelity Bonds

Crime and Fidelity Bonds

Crime or Fidelity Bond coverage protects organizations from their own loss resulting from a crime event. At its most basic, Crime Insurance protects organizations from loss of money, securities, and other property. The primary coverage granted, and the primary coverage implicated in a crime loss, arises from employee dishonesty and employee theft. Most crime policies including the following coverages:

Employee Dishonesty/Theft
Forgery or Alteration
Robbery or Burglary on premises or in transit (including safe burglary or damages to premises)
Money Orders and counterfeit currency
Computer fraud and funds transfer fraud
Credit card coverage
Claims expense

Employee Retirement Income Security Act (ERISA) bond coverage is often added to a crime policy subject to a zero retention in order to comply with ERISA bonding requirements. However, a separate ERISA bond can also be purchased to address this requirement.

Crime policies can also be expanded to include coverage for client property losses in the care, custody or control of the Insured and for fraudulent impersonation coverage.

Crime policies can be written on Loss Sustained or on Discovery base forms. Discovery forms are generally preferable as they respond to losses discovered by persons designated in the insurance policy irrespective of when the loss occurred (often a sustained period of time). It only matters that the loss gets “discovered” and noticed properly during the time the policy is in force.

At Alliant we understand the potential for a crime event and scope of coverage that can be available to reimburse our clients for their losses resulting from such an event. We take the time to learn about our clients’ specific crime risks including product and by-product losses from theft, location exposures and employee opportunity for wrongdoing. Our experience in dealing with crime losses also brings an understanding and familiarity of the insurance loss evaluation and payment process. We provide our clients with an insight into the insurance marketplace – carrier information (financial condition, coverage appetite and performance metrics), pricing trends and expectations, and state of the market coverage availability. We pay attention to the details because we know that are clients are relying on us to do so.

The Alliant Executive Risk Group brings together individuals with technical, legal, underwriting and claims experience on all types of executive risk exposures. Our product-specific practice transcends industry sectors to focus on risks faced by public and private companies and their directors, officers and others.

For more information, contact:

Brian Dunphy

Senior Vice President, Managing Director

The Specialty Leader Since 1925

Please select the service you wish to access, then log in.

Crime and Fidelity Bonds

For more information, contact: