Bad people do bad things, and their actions can affect your organization. A crime bond or crime policy from Livingston Insurance Agency protects you from losses due to dishonest employees. Learn when you might need one.
Business owners never think they would need a crime bond to protect themselves from their own employees. But many workers have a dark side. Internal theft is one of the leading reasons for lost revenue. Livingston Insurance Agency wants to protect your business from internal crime events. And a fidelity bond is the perfect place to start.
What Is a Crime Bond?
A crime bond provides employee dishonesty coverage. While commonly called a “bond”, carriers these days issue it as a crime insurance policy. This coverage protects your business from many inside crimes. Issuance of the bond guarantee you recoup any damages—securities, money, or property—caused by an employee per the policy terms.
It covers many losses incurred by corrupt workers, including:
- Employee Theft
- Electronic Crime
- Counterfeit Currency and Money Orders
- False Claims Expense
- And More
Also called fidelity bonds, crime bonds are a unique type of coverage. Unlike other bonds, which require three signatures, crime bonds are a 2-party arrangement. In that sense, they act more like an insurance policy. Most insurers even cover it on a commercial crime policy form instead of as a bond.
Need a Crime Bond? Livingston Has You Covered!
Dishonest employees are commonplace. Most corporate theft is an inside job, and white-collar theft is at an all-time high. The interview process doesn’t always weed out the criminals. Even some good workers turn to crime after several years of bad luck. Fidelity bonds are one of the only ways businesses can safeguard themselves from employee theft.
Livingston Insurance Agency can help your business shield itself from deceitful workers. Our staff understands the needs of business owners and the fear of inside crime events. A crime bond will put those worries to rest. Got questions about obtaining a fidelity bond? With 60+ years in the insurance and bond industry, we can answer them all! Let our experts walk you through the process.
Ready to add a layer of protection against employee theft? Contact Livingston Insurance Agency to get coverage with a crime bond.