Small Business Crime Insurance

Small Business Crime Insurance Comprehensive Solution

Are your small business clients receiving adequate crime protection?

Great American Insurance Group, America’s 3rd largest provider of fidelity/crime insurance products, is proud to introduce our new streamlined crime insurance solutions tailored to help protect small businesses with up to 250 employees. Coverage provided by AM Best “A+” (Superior) rated carriers.*

*AM Best affirmed December 15, 2023

When it comes to fighting fraud, many small businesses face an uphill battle.

• Small businesses* are the most common victims of fraud accounting for 30% of all cases.
• Small businesses* feel the impact of fraud losses more than larger organizations sustaining median loss of $140,000 with 23.2% of fraud losses totaling $1 million or more.
• 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.

*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 (2016 Global Fraud Study)

Key Advantages of 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.
• Employee Benefits Plans: Qualified ERISA Plans of any Sponsored Organization

Restricted Classes

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