Ineligible situations include the following:
- Acts Committed by the insured business (including business partners and employees).
- Acts of Employees when the insurance company learned that an insured businessowner knew about the acts before the Crime Insurance Policy was obtained.
- Acts of Employees, Managers, Directors, Trustees or Representatives. However, this exclusion does not apply to the policy’s Employee Theft provision.
- Loss caused by unauthorized use of confidential business information.
- Governmental Action (such as property seizure, forfeiture or destruction).
- Indirect Income Loss (due to loss of access to money, securities or other property).
- Legal Fees, Costs and Expenses related to any legal proceedings.
The reality is that businessowners have to make suspicious assumptions against both insiders and outsiders when it comes to protecting their assets. Fortunately, Crime Insurance Coverage is available to help meet such sources of loss.