Commercial crime coverage is an essential insurance policy that protects businesses from the financial losses that result from criminal activities. Every business should have a commercial crime coverage form that outlines the insuring agreements and the scope of coverage. This article highlights the eight insuring agreements that are found in most commercial crime coverage forms.

1. Employee Theft

Employee theft is the most common form of commercial crime. It occurs when employees steal company property or money. The employee theft insuring agreement provides coverage for losses resulting from theft or forgery committed by employees.

2. Forgery or Alteration

Forgery or alteration occurs when someone forges or alters a check or other negotiable instrument. The forgery or alteration insuring agreement provides coverage for losses resulting from forgery or alteration of checks or other negotiable instruments.

3. Computer Fraud

Computer fraud is the use of a computer to commit a fraud. This can include hacking into a company`s computer system to steal information or money. The computer fraud insuring agreement provides coverage for losses resulting from computer fraud.

4. Funds Transfer Fraud

Funds transfer fraud occurs when someone fraudulently transfers funds from a business`s bank account. The funds transfer fraud insuring agreement provides coverage for losses resulting from fraudulent funds transfers.

5. Money and Securities

Money and securities insuring agreement provides coverage for losses resulting from the theft, disappearance, or destruction of money and securities.

6. Robbery and Safe Burglary

Robbery and safe burglary insuring agreement provides coverage for losses resulting from the theft of property from the business premises.

7. Counterfeit Money

Counterfeit money insuring agreement provides coverage for losses resulting from the acceptance of counterfeit money.

8. Kidnap, Ransom, and Extortion

Kidnap, ransom, and extortion insuring agreement provides coverage for losses resulting from kidnap, ransom, and extortion incidents.

In conclusion, the above insuring agreements are the most common in most commercial crime coverage forms. Each agreement serves to protect businesses from different forms of commercial crime. It`s essential to have a commercial crime coverage form that covers all these insuring agreements and ensures that your business is protected from financial losses resulting from criminal activities.