Crime insurance is insurance to cover losses due to victimization by criminals. It's also called "fidelity insurance." Many businesses purchase crime insurance that allows them to file claims for employee theft or other offenses with the potential to cause financial ruin.
Insurance companies sell separate crime insurance because regular property insurance policies usually don't cover losses caused by dishonest employees.
Crime insurance pays when an organization suffers a loss from things like:
- embezzlement
- theft
- forgery
- computer fraud
- counterfeiting
- breaking into a safe
- general crime and dishonesty
Some organizations buy crime insurance instead of a surety bond.
Anarcho-capitalists favor the use of crime insurance by individuals as well, to cover losses due to murder, rape, and other violent crimes in addition to property crimes; this type of crime insurance is termed aggression insurance.
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