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 16, 2022
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.
- 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 Provers, 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
- Auction/Asset Disposal
- Auto Dealers/Repair Shops
- Cannabis/CBD Shops
- Check Cashers/Couriers
- Financial Institutions
- Home Health/Assisted Living
- Hospitals/Healthcare Providers
- Jewelry Stores
- Law/Escrow Firms
- Pawn/Resale Shops
- Payroll Processors
- Plumbing/HVAC/Elec Contractors
- Public Entities
- Third Party Administrators
- Transportation Providers
- Waste Management/Recycling