Crime Insurance

Crime insurance can protect against criminal activity that costs UK businesses hundreds of millions every year

Get indemnity™ crime insurance

Protect against employee theft, cyber-crime and social engineering fraud with crime insurance.
Compare crime insurance quotes starting from £423 annually or £35.25 monthly.
Commercial crime insurance can protect against a wide range of business fraud.
Combine crime insurance and cyber insurance under one policy to fully protect your business.

Crime Insurance Coverage

Ensure protection against an increasing rise in fraud and theft from sophisticated criminals

Companies with inadequate controls are often the target of sophisticated criminal networks and disgruntled employees. Crime insurance can offer valuable protection against an increasing threat of criminal activity. 

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

    Theft of money and property costs UK businesses hundreds of millions of pounds every year. Crime insurance can offer financial protection to guard against the financial loss and forsenic costs to investigate what happened.

    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.

    Businesses of all sizes and industries should consider buying crime insurance, the losses incurred can be substantial and occur over a long period of time before the fraud is identified.

    To manage your exposure read: CyberCrime Prevention and Business Insurance Explained

    What is crime insurance?

    Crime insurance (otherwise known as commercial crime insurance) offers financial protection from a criminal or fraudulent taking, obtaining or appropriation of money, securities or property.

    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.

    Crime insurance can be tailored to meet your individual needs. It's worth noting that some covers are available under policies such as management liability insurance, however cover will typically be limited to employee fraud.

    What types of crime insurance cover are available?

    Each insurers crime insurance policy can vary, and the terminology may alter, however the broad covers are comparable under the below sections:


    Employee fraud insurance

    Employee fraud (also known as fidelity guarantee) provides protection for financial loss, caused by an employee's criminal or fraudulent behaviour.


    Third-party fraud insurance

    Third party fraud provides protection for financial loss caused by a third party's criminal or fraudulent behaviour.


    Client fraud insurance

    Client fraud provides protection against for financial loss, to the deprivation of a client, caused by an employee's criminal or fraudulent behaviour.


    Social engineering fraud insurance

    Social engineering fraud provides protection against financial loss, caused by an act of influencing an employee to divulge sensitive information or perform a task on the fraudsters behalf.

    How to prevent crime insurance losses?

    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

    How do insurers calculate your crime insurance cost?

    Insurers are confronted with a number of challenges in attempting to accurately price your crime insurance cost. For example, the diversity of exposures from different business activities, increasing sophistication of criminals.
    Below are key considerations when insurers calculate your crime insurance cost:
    • 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.

    How does a crime insurance policy work?

    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.

    If you discover a crime has occurred during the policy period, it is important to notify the insurer of those circumstances immediately.

    How to compare quotes for crime insurance?

    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.

    At get indemnity we have seen limited competition within the insurance market for large companies. However, small to medium sized companies with the ability to demonstrate sufficient controls will be able to negotiate favourable terms.

    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.


    Compare crime insurance online

    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.