How to Reduce Commercial Crime Insurance Risks
Earlier this year, we discussed some reasons why your clients need commercial crime insurance, citing potential risks such as forgery, theft of money, computer fraud, and the damaging of customer’s property from a break in and/or burglary. Your clients may not be aware, but commercial property loss actually occurs more often due to crime-related incidents than any other cause. While the right Commercial Crime Insurance Policy is the only way for your clients to financially protect themselves against a claim of this type, there are steps they can take that could possibly reduce their commercial crime insurance risks.
When it comes to burglary, there are a lot of things your client can do to potentially reduce their risks. Some ideas to share with your clients include:
Installing an Alarm System. Investing in an alarm system is an excellent idea. The best type is the kind that has a motion sensor inside as well as outside. List the local police department as the main contact for the alarm company, as police will typically respond much faster than the business owner.
Implementing Video Surveillance. Any type of business with computers or another type of expensive equipment is typically going to be a target for break in and theft. Consider upgrading your security system with video monitoring. Thieves may avoid a business that they know have cameras. Additionally, if you implement video surveillance, make sure you and your employees have access to the feed.
Mark Electronic Devices. Burglars will typically pass up marked items because they are hard to pawn off and the information can be uses to return stolen property to you. Also be sure to take an inventory of your electronics and other items with serial numbers.
These are just a few of the ways your clients can potentially prevent a break-in or burglary of their company, and thus reduce their commercial crime insurance risks. In situations where employee dishonesty is to blame for the crime, Employment Practices Liability insurance may be more appropriate. We invite you to take a look at each of our programs at PLRisk, and discover more about how we can help meet your client’s needs. Please contact us today at (855) 403-5982.