When it comes to safeguarding a business, today's owners have more than a few options at their fingertips for "hedging" their investments with commercial crime insurance. The business insurance policy types known as commercial or business crime insurance can help in the battle with product loss, walk-off merchandise, or whatever you want to call it, as well as issues of theft and fraud from either within a business or from those outside of it.

To check out how business crime insurance providers are proving useful to all kinds of businesses, owners, managers and other business leaders can take a look online to help chart their own future with customized policies. Online resources for commercial crime insurance news and trends include:

1. Items for looking at how a crime insurance policy can alleviate the financial sting of dishonest activity by employees.

2. News on commercial crime insurance rates, policies and providers for protecting a company from theft from beyond its walls.

3. More on how crime insurance is used to cover not only physical damage to business assets, but also "loss of business" issues related to crime.

Action Steps
The best contacts and resources to help you get it done

Battle employee theft with commercial crime insurance

One aspect of crime that plagues business owners is employee fraud. Whether it's in the form of stolen merchandise, money taken from registers, false payroll, or embezzlement of some kind, it comes down to the same thing--liability. Commercial crime insurance addresses all of these cases according to the policy you buy.

I recommend: Articles like this one in the Insurance Journal show business leaders how to do damage control on employee dishonesty and fraud inside a company. Find more on this type of commercial crime liability insurance for keeping employee hands out of the till from sites like this one from Utter/Morris.

Look for commercial crime insurance for cash and securities assurance

Web users can also find out how to 'guard the fold' and protect the wealth of a business from outside piracy by con artists and those with access to company resources.

I recommend: Find out how these kinds of commercial crime insurance policies "cover your cash" at Nationwide. For a look at who's offering certain types of commercial crime insurance, check out the news at BNet "Who's offering Fidelity?"

Look for commercial crime insurance that provides more kinds of protection

There's more on the web for businesses considering commercial crime insurance: take a look at info resource sites to find out how commercial crime insurance providers can offer clauses for lost business, property damage and all of the other 'unknowns' that occasionally happen.

I recommend: Get resources for finding out how to cover property damage at CoverZones. Sites like the Otero Insurance Group site can help show how commercial crime insurance can cover property as well as even "interruption of business" claims.

Your business needs commercial crime insurance. Criminal employees cost U.S. organizations more than $400 billion each year. The average business looses over $9 a day per employee and 6% of its yearly revenue to fraud committed by employees. Out of every ten crimes made against businesses, nine are committed by employees. Frequently, it's long-standing, trusted employees who commit such crimes.

Although most large businesses and corporations automatically buy a global crime insurance policy, many small and medium-sized businesses neglect it--which puts them at higher risk of loss. With employee crime on the rise, now is not the time to cut corners by eliminating your commercial crime liability insurance. Still, as you check out commercial crime insurance rates, you may ask what insurance is best for you. Consider these types of commercial crime insurance:

1. Business Owner's Policies with crime insurance coverage

2. Commercial crime liability insurance for smaller businesses

3. Crime insurance coverage for larger businesses

Action Steps
The best contacts and resources to help you get it done

Buy BOP insurance with crime insurance coverage

Just as you carry a homeowner's policy on your house, you should also carry general insurance on your small or medium-sized business. Although your Business Owner's Policy (also called a BOP) won't protect every area of your business, it will cover the basics at a reasonable cost. At the very least, your BOP should cover property insurance, business interruption, casualties, liability--and crime protection.

I recommend: Wells Fargo offers business owner's policies covering property and liability. MAG Mutual provides BOP insurance to protect property premises, with specialized coverage for those in the medical field. Vern Fonk Insurance offers BOP policies for large and small businesses.

Select a comprehensive commercial crime insurance policy for smaller businesses

Even if your small to medium-sized business has a BOP, its crime coverage is probably insufficient. Limits are generally lower with BOPs, which is a problem primarily because employees tend to steal a little at a time; you may not notice discrepancies until the theft has cost your business a great deal. Therefore, speaking to commercial crime insurance providers is an excellent idea.

I recommend: AIG offers crime insurance just for small businesses, as does Daniels-Head Insurance. McGhee Insurance Agency provides crime insurance covering robbery, theft and "mysterious disappearance."

Find crime insurance coverage for larger businesses

Large businesses and corporations absolutely must have comprehensive crime coverage. Remembering that theft usually occurs over time and involves great sums of money, seek out commercial crime insurance brokers offering policies that are realistic in their coverage and allow for thefts to be discovered a year--or more--after the actual crime.

I recommend: Zurich offers up to $25 million in crime insurance for virtually any company--large or small; coverage includes computer fraud and theft, employee dishonesty, theft and forgery. Nationwide provides crime insurance for many businesses, including those requiring heavy coverage. Chubb is a leader in providing crime insurance for large companies.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Only some commercial crime insurance policies cover cybercrime, so read your policy carefully. Some business crime insurance providers consider cybercrime like any other theft, while others do not.