Crime-Fighting Tips To Keep Your Company Safe

Aug 12, 2020, 1:50 PM

Extortion? Counterfeiting? It could happen to your business.

We offer coverage for crimes where your business is the victim, specifically financial crimes that affect your company’s bottom line. Our crime-pak coverage makes security its focus. It features protection for:

  • Credit, debit, or charge card forgery
  • Employee dishonesty
  • Extortion
  • Forgery or alteration
  • Money and securities
  • Money orders and counterfeit paper currency

I know, extortion or counterfeit bills sounds like something from the movies, something that’s pretty unlikely at your small store or your factory that doesn’t work directly with the public.

But that’s what insurance is for: to keep you protected when something you don’t expect happens. Even one instance can be damaging; there have been news reports of thousands of dollars embezzled from churches over the years, for example. A crime like that can damage a reputation and can even put an end to a business — if it’s not protected with crime insurance.

Business crime insurance coverage

What can you do to keep your business financially safe? We’ve talked about internet security before. Your bank probably has its own set of security guidelines and tools to protect your money. Here are some simple ways to make sure your company is financially protected.

  • Keep careful records and make sure more than one person is responsible for them.
  • If you take money (checks and cash) to the bank, take it more often, or keep it locked away until it’s time for a bank visit.
  • Audit your financial statements regularly, either using a professional auditor or simply reviewing income and expenditures yourself.
  • Keep your computer’s virus protection updated and change passwords periodically.

Questions? Let us know in the comments.

The Mutual Understanding blog and Hastings Mutual videos are made available for educational purposes only. The information referred to is not an official company statement, corporate policy, or offer of coverage. Refer to your insurance policy for specific coverage. There is no representation as to the accuracy or completeness of any information found by following any link on this site. Please contact your local independent insurance agent with further questions and for more details on any insurance policy-related information you read here.

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