PNW financial guaranty insurance

3 Types of Crime You Can Insure Against

If you are a financial services institution or technology company working in the Pacific Northwest (PNW), as you review your assets and you teach them, you might want to consider crime insurance as a form of PNW financial guaranty insurance. When you think of crime insurance, it is best to consider these three types, which act as an umbrella for specific criminal activity.

1. Internal Crime

There is a bad apple in every bunch, so pick the right policy to protect yourself from dishonest employees. This includes so-called white-collar crime like embezzlement and fraud, which cost businesses billions of dollars each year. This type of offense isn’t just for big institutions. Small businesses also encounter employee crime.

2. External Crime

Businesses should protect themselves from loss or damage brought on by misconduct such as robbery, vandalism and assault, often referred to as “hard crime.” There is “soft crime,” too. This includes counterfeiting and fraud. Financial services companies will also want to protect against blackmail.

3. Electronic Crime

Electronic crime might include cybercrime, such as a data breach, possibly caused by a phishing same or malware introduced into the system inadvertently. PNW financial guaranty insurance