Policy snapshot
Provides coverage for financial losses resulting from acts of dishonesty, theft, fraud, or embezzlement by employees or third parties.
What is Crime Insurance (Commercial Crime Policy)?
Crime Insurance protects companies from financial losses due to internal or external fraud. It’s vital for businesses handling large cash flows or customer data.
What can it cover?
- The policy covers direct financial losses due to dishonest acts of employees or third parties, including theft, forgery, computer fraud, and fraudulent electronic fund transfers. Optional extensions include social engineering fraud and outsourced vendor-related crimes.
Who should consider it?
- Banks, NBFCs, fintech firms, large corporates, Retailers, educational institutions, manufacturing businesses
Key features to understand
- {"heading": "Key Features", "bullets": ["Covers employee fraud, fund transfer fraud, forgery", "Can include social engineering and cybercrime losses", "Ideal for finance-heavy and high-turnover businesses"]}
What deserves attention before you buy?
Coverage, exclusions, sub-limits, deductibles, waiting periods, warranties and underwriting can vary between insurers and policy versions. The policy wording and schedule remain the definitive contract. Novo can help you review the relevant terms for your requirement.
Read the wording, not just the brochure
The schedule and policy wording determine the actual contract.
Compare meaningful differences
Look at exclusions, limits, deductibles, conditions and claim requirements—not premium alone.
Think beyond purchase
Servicing and claims-related support can matter as much as placement.