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 how insurance can protect your business from criminals.

Complete our digital onboarding process or have one of out account executives give you a call-back at a convenient time to discuss your requirements. Your industry and size will have a direct bearing on the availability and cost of cover.

Get indemnity™ crime insurance

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

Get indemnity™ crime insurance can be combined with cyber coverage to ensure your business is protected from a range of cyber related attacks, in addition to theft and fraudulent behaviour.

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

Compare crime insurance quotes with a digital broker

What is crime insurance?

Crime insurance (otherwise known as commercial crime) 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 covers can be combined with cyber covers to provide comprehensive protection in the digital age.

The 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 or fidelity 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 fraudster's 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	Firewall

How do insurers calculate your crime insurance cost?

Business 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 insurance premium:

The size and scope of an applicant's activities and territorial exposure measured by turnover, employee numbers and total assets will impact your insurance cost.
The quality of controls to mitigate potential exposures, will also impact your 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 cover.

How does a crime insurance policy work?

Commercial crime 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 your insurance broker early in the renewal process.

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© 2022 Get Indemnity is the trading name of Insurance Direct Group Solutions Limited authorised and regulated in the UK by the Financial Conduct Authority (FRN 802038). We are a proud Willis Towers Watson Network insurance broker and member of the British Insurance Brokers Association. Registered office: The Minster Building, Great Tower Street, London, EC3R 7AG. Please visit the FCA website at www.fca.org.uk or telephone on 0800 111 6768 for further regulatory details.

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Crime Insurance

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

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