Why You Need Commercial Crime Coverage

Don Allan

Don Allan

By: Don Allan, Agent Relations Manager

John is a family man, father of two, and has a taste for adventure. He loves to travel with his sons and wife and is always looking for the next thrill. He recently was awarded "Salesman of the Year," at his job which has given him the luxury of providing a nice home in an 8-unit building on Beacon Street in Boston. It also gives him the time to coach his sons baseball teams, donate time to his community and serve on his condo association board.

While on vacation skiing in Vermont with his family, John was involved in a terrible accident. He suffered a broken arm and leg while skiing.

His road to recovery was long and he missed many months of work due to the accident. To make things  worse, John became dependent on the prescription drugs he was given to relieve pain. After draining the families' savings, his childrens' college fund, and his own bank account to help purchase the drugs, he had no where to turn.  


He started stealing money from the condo association to pay for his habit. He told himself he had every intention of getting better and going back to work to pay it all back. But this was harder than John imagined, and his habit continued.

Unfortunately good people can do bad things when they feel they're left with no options. Even though John didn't mean to hurt those around him he still committed a crime which could greatly affect his condo association.

How can your business or association be protected for such crime?

Everyone should have protection from commercial crime coverage and you should always be familiar with your policy limits. Because John's condo complex had crime coverage on their master policy, they were protected and reimbursed the money that had been lost in this instance. This coverage also insures any managers or board members under employee dishonesty coverage for theft of money, forgery and altercations.

In closing, it is always suggested that you understand your policy and what kind of coverage it offers. You never know what situations may arise and it is always better to be prepared.