What is Crime Insurance?
Crime Insurance, also known as Fidelity Insurance, provides protection to sports associations against financial loss. Crime Insurance covers your association from loss of money, securities or financial instruments resulting from a crime.
What Types of Claims Are Covered?
Typical Crime insurance claims allege employee dishonesty, embezzlement, forgery, robbery, safe burglary, counterfeiting and other criminal acts. Claims usually fall into two types of categories:
- Theft (Inside/Outside) pays for money and securities taken by burglary, robbery, theft, disappearance and destruction. The crime can take place on your premises (inside) or away from your property (outside) at a bank or at a fundraiser, for example.
- Employee dishonesty coverage pays for losses caused by dishonest acts of your employees or volunteers, such as embezzlement, forgery or theft.
What is Not Covered by Crime Insurance?
This policy does not cover computer theft or fraud. The Crime policy also does not provide protection for loss of equipment or other league property – that exposure can be covered under the Equipment Insurance Plan.