At get indemnity™ crime insurance quotes start from £423 annually or £35.25 monthly. Below we seek to provide some background and explain, what crime insurance cover are available and why you should consider protecting your business.
Get indemnity™ crime insurance can also extend cover to what is traditionally offered under a cyber insurance policy, typically referred to as cyber and crime insurance. To obtain your quotes, please complete our online application.
To manage your exposure read: CyberCrime Prevention and Business Insurance Explained
Typically offered on an all-risks basis and will cover a variety of financial losses from fraudulent behaviour. It's worth considering that crime insurance can be combined with cyber insurance to provide comprehensive protection in the digital age.
A cyber crime can potentially be covered under both crime insurance and cyber insurance, however each provides cover in different ways:
All companies and industries will face their own challenges to prevent dishonesty and business fraud, below is a list of common practices that promote good risk management:
Centralised systems and controls |
Dedicated IT personnel |
Dedicated internal audit function |
Segregation of duties for banking functions |
Dual signatories for authorising payments |
Independent wage check against personnel records |
Pre-employment screening |
Whistle blowing policy |
Encryption software |
Unique passwords |
Antivirus software |
Firewall |
The size and scope of an applicant's activities and territorial exposure measured by turnover, employee numbers and total assets will impact your crime insurance cost.
The quality of controls to mitigate potential exposures, will also impact your crime insurance cost:
Are employee duties segregated, so no one employee can control any transaction from start to finish?
Do you maintain a dual authorisation procedure for transferring funds?
When recruiting for positions of trust involving money or stock, do you undertake background checks?
Frequency and severity of claims, in addition to any remedial action for any historic losses will impact the availability of crime insurance.
Crime insurance policies operate on a losses discovered basis. Which means the current policy will respond to claims once the loss has been identified and notified to the insurer.
To compare crime insurance quotes from a range of wholesale insurers, please complete our online application. Our digital onboarding process has been designed with our customers in mind, recording material information to promote competition between insurers.
If your business is perceived as carrying a high hazard exposure or you have recent claims activity, you should engage with your crime insurance broker early in the renewal process.
This guide is for information purposes and based on sources which we believe are reliable, the general risk management and insurance information is not intended to be taken as advice with respect to any individual circumstance and cannot be relied upon as such.