Small Business Crime Insurance

Why Crime Insurance for Small Businesses is so Important

Crime insurance can be crucial for small businesses, providing protection against financial losses due to theft, fraud, and embezzlement by employees or third parties. Small businesses are particularly vulnerable to fraud and face numerous risks:

• Small businesses* are the most common victims of fraud accounting for 21% of all cases.
• Small businesses* are significantly affected by fraud, with median losses reaching $141,000. In extreme cases, these losses can soar into the millions.
• Employee theft is 15 times greater than external theft of embezzlement.
• Common fraud schemes plaguing small businesses* include billing fraud, check tampering, expense reimbursement, cash embezzlement and payroll fraud.

Our crime insurance coverage is designed for small businesses to help prevent significant losses that could jeopardize their financial stability, allowing them to remain resilient and focused on their long-term goals.

*Small businesses are defined as organizations with fewer than 100 employees. Resources: Association of Certified Fraud Examiners Report to the Nations on Occupational Fraud and Abuse (2024 Global Fraud Study)

Our Small Business Crime Insurance Comprehensive Solution

Great American Insurance Group, North America’s 3rd largest provider of fidelity/crime insurance products, is proud offer a streamlined crime insurance solution tailored to help protect small businesses with a minimum of 5 employees up to a maximum of 250. Coverage provided by AM Best “A+” (Superior) rated carriers.

Key Advantage of Our Small Business Crime Insurance

• Competitive rates specific to small business exposures: Minimum premium starting at $100.
• Our industry recognized outstanding underwriting expertise and claims service backing it all.
• Limits available up to $3 million.
• Broad appetite with few restricted classes ERISA coverage included or available on a stand-alone basis.
• Comprehensive crime insurance coverage solution in comparison to limited coverage typically found within package policies.
• Multi-year term options available.

Target Classes

Retail: Apparel/Footwear Stores, Gift/Souvenir Stores, Food/Grocery Stores, Online Retailers, Salons/Spas

Food & Drink: Catering/Food Service Operators, Coffee Shops, Craft Breweries/Distilleries, Confection/Novelty Shops, Restaurants

Entertainment: Entertainment Venues, Experience Marketing, Hotels/Lodging, Movie Theatres, Performing Arts Organizations

Professional Services: Accountants, Advertising/Marketing/PR Firms, Management Consulting Firms, Professional Associations, Trade Groups

Technology: Computer Programming, IT Firms/Consulting, Software Developers, Website Developers

Sports & Recreation: Dance/Gymnastics Studios, Golf Clubs/Courses, Gym/Fitness/Wellness Centers, Outdoor Recreation Providers, Sports Leagues/Clubs, Yoga Studios

Construction: Architect/Engineering Firms, Construction Consultants, Environmental Consultants, General/Specialty Contractors, Janitorial/Maintenance Services, Landscaping Services, Electrical/Plumbing/ Heating Contractors

Employee Benefit Plans: Qualified ERISA Plans of any Sponsored Organization

Medical Services: Dental Offices, Physician Offices, Optician Offices, Home Health/Assisted Living, Animal Hospitals

Restricted Classes