Crime

Make sure crime doesn’t take a big bite out of your business. Westfield provides the protection you need to make sure it won’t. Many business owners aren’t aware that most property-insurance policies don’t cover employee theft—and don’t include money as covered property. Westfield’s crime insurance fills both these coverage gaps, and more. You can customize crime protection by selecting from a range of coverages detailed below:

Employee Theft 

This coverage protects you from loss of money, securities, or other property that you own or lease when the loss is caused by an employee. You’re also protected from employee-theft losses involving property that you hold for others.

Computer Fraud and Transfer Fraud coverage

This coverage pays for loss of money, securities, and other tangible property when a computer is used to fraudulently transfer covered property from inside your premises—or a banking premises—to a person or place outside those premises.

Forgery or Alteration coverage

This coverage protects you against loss due to the forgery or alteration of checks, bank drafts, promissory notes and similar documents drawn on your business’s bank account. This coverage also includes applicable legal defense costs.

Disappearance or Destruction within your Premises

Crime insurance covers more than theft. It also covers disappearance or destruction of money and securities from within the insured premises, or from within the premises of a financial institution. In addition, it covers two other types of loss:

• Loss of or damage to a locked safe, vault, cash register, cash box or cash drawer inside the premises caused by the actual or attempted theft of the container or unlawful entry into it.
• Damage to the premises or to the exterior of the premises from an actual or attempted theft of covered property, provided that the named insured is the owner of the premises or is liable for such damage.

   

Outside your Premises

Coverage for crime outside your premises covers theft as well as disappearance or destruction of money and securities while outside your premises. It also covers:

• Theft, disappearance, or destruction of money and securities while outside the premises in the custody of a messenger or an armored motor vehicle company;
• Loss or damage to property other than money and securities in the custody of a messenger or an armored motor vehicle company resulting from actual or attempted robbery.