When thinking of the 2008 financial crisis across the country, those on the main street likely wished they had commercial crime coverage from mortgage-backed securities. The amount of dishonesty involved with the most recent recession is unfathomable mainly for the average American. With this said, there is much fraud that occurs in business in every sector, unfortunately. While you likely want to give everyone you meet the benefit of the doubt, specific individuals take advantage of kindness. Many businesses take out commercial crime coverage because the risk of theft or employee dishonesty is too high to leave uncontested.
Why Take out a Commercial Crime Policy?
The next time you go to Meijer or any other big box store, look up at the ceiling and see if you can count all of the cameras. Your brain will likely tire of this activity rather quickly, and you will resume shopping. The reason all of these cameras exist in these stores is because the amount of fringe that occurs can often not be contained. Loss prevention attempts to watch all suspicious activity that occurs in a particular store, but it is impossible to catch every crime. With this said, loss prevention employees even masquerade around the store as fake customers to follow suspected criminals.