Commercial crime or business crime insurance is an essential coverage to have, as it provides protection for losses due to fraud, embezzlement, theft, forgery, or any other business crime. Statistics show that every year businesses lose $50 billion due to employee theft and more than 30% of business bankruptcies are a result of employee theft. This coverage can protect against losses in cash, assets, merchandise, or other property. While there may be a small amount of crossover in coverage between a commercial property policy or cyber liability policy, these policies typically do not include coverage for business crimes or only offer one small element of coverage. For this reason, it is imperative to either purchase a package policy that may have crime coverage built-in or have a separate crime policy in place.