• Why Crime Insurance Is Important
• Affordable Options
• Why Nationwide?

Business Crime Insurance: Why It’s So Important

The bookkeeper was one of the company’s first employees, a person who often worked long hours to get the job done. So it was a shock when the he failed to show up for work one day and never returned. It was an even bigger blow when an audit discovered more than $55,000 missing, a theft so great that the company was unable to meet payroll.

Such scenarios unfortunately are common among small and medium sized businesses lacking internal controls, and whose management puts too much blind trust in employees. Small businesses are especially vulnerable to occupational fraud, says a 2008 study by the Association of Certified Fraud Examiners (ACFE). The median loss suffered by organizations with fewer than 100 employees was $200,000, higher than the median loss in any other category. Check tampering and fraudulent billings were the most common small business fraud schemes.

Nationwide crime insurance coverage is designed specifically for small and mid-sized business, and is easily customized to cover almost all possible acts of both internal and external crime that can cripple, if not kill, a business.

The need for crime protection is real

Because crime-related losses are not typically covered by most commercial property insurance policies, crime insurance, also know as “fidelity” insurance, is an important consideration for any business.

Crime insurance is often overlooked, or where businesses think they can cut costs by having minimal coverage. Being underinsured, however, leaves a company vulnerable to potential catastrophic losses.

“Most business don’t purchase enough crime protection,” says Mark Vanderly, Commercial Sales Agent, for Nationwide Insurance. “Employee fraud can often go undetected for years, and when finally discovered, the effect is very damaging if not fatal for small companies.”

What is typically covered

Nationwide’s commercial crime insurance was created to cover basic types of business crime, and can be customized to fit the size and scope of your company. Coverage can be added as endorsements to basic business owner’s policies, or written in addition to other Nationwide business insurance policies.

Nationwide’s business crime insurance covers:

• Employee fraud and dishonesty
• Forgery or alteration
• Burglary and robbery
• Money and securities theft

As a Nationwide Insurance customer, you’ll receive 24/7 claims service, superior customer service, free loss control information and the financial stability that comes with an A+ rating from A.M. Best.

Contact a Nationwide agent today and learn how your business can be protected against crime.