By Janardhan N 
7 Crime Insurance Providers in India: You should know about
The global crime insurance market was estimated at around $17.6 billion in 2024. Now, it’s only getting bigger.
It’s not even surprising, considering the significant risks companies face today, especially from within.
A Marsh report reveals that 59% of crimes are committed by employees, with frauds such as fund transfer scams experiencing a dramatic rise.
With businesses depending on digital platforms on a day-to-day basis, the risk of employee theft and financial fraud also grows accordingly.
In a recent incident, an employee illicitly withdrew company funds by forging a signature on a cheque. Fortunately, the company’s Crime policy covered the financial loss.
In this guide, we will explore crime insurance and the top 7 crime insurance providers in India that can help protect your business against these rising threats.
What is Crime Insurance?
Crime insurance helps businesses recover from financial losses caused by criminal activities, including employee theft, computer fraud, and more. If the company faces such crimes, a crime insurance policy can help mitigate the legal and financial costs caused by the incident.
The following are some of the crimes that can impact any company.
- Unauthorized fund transfers
- Theft of inventory
- Employee dishonesty
- Forgery of financial documents like cheques and bank drafts
With more businesses opting for remote work models and digital transactions, the likelihood of internal theft and the misappropriation of funds has also increased. In addition, companies are recognizing that their traditional insurance policies don’t cover all types of financial crimes.
As a result, cyber and crime insurance — including coverage such as insurance for employee dishonesty or insurance for theft — has become an essential component of a risk management plan.
Learn more about the importance of crime insurance in modern business
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Crime Insurance Vs Cybercrime Insurance
You may hear the terms “crime insurance” and “cybercrime insurance” and assume they are interchangeable. However, they are made to withstand rather distinct types of threats.
Crime insurance shields your company from actual losses of tangible assets. This includes theft of money, securities, and property resulting from embezzlement, forgery, employee dishonesty, or third-party fraud. Losses are quick and measurable, and the direct target is your company.
On the other hand, cybercrime insurance covers the indirect losses resulting from any digital threats or intangible assets. This includes ransomware, phishing, and data breaches. These attacks can erode customers’ trust, disrupt operations, and incur significant legal costs.
| Criteria | Crime Insurance | Cybercrime Insurance |
|---|---|---|
| Type of Loss | Direct | Direct, Indirect |
| Nature of Loss | Tangible (cash, property) | Intangible (data, systems, operations) |
| Affected Party | First party (your business) | First and third party (you + affected individuals) |
Why Indian businesses need both Cyber and Crime insurance. Learn the importance now!
Why is Mitigata your best crime insurance partner?
When it comes to crime insurance in India, Mitigata is a leading broker service provider in India. We offer you the best rates to ensure your business stays protected from both internal and external criminal threats.
Our crime insurance policies provide coverage for a wide range of risks:
- Employee theft
- Forgery
- Fraudulent Funds Transfer
- Computer Fraud
- Robbery and Burglary
Like any insurance policy, there are exclusions you should be aware of:
- Prior Knowledge of Dishonest Acts
- Indirect Losses linked to the crime
- Acts of War or Terrorism
Having Mitigata as your crime insurance partner means knowing that your business is protected from all angles so you can focus on growth without worrying about unexpected risks.
Top 7 India’s Crime Insurance Providers of 2025
1. HDFC ERGO
HDFC ERGO is one of the leading crime insurance provider in India. Their crime insurance policy provides businesses with robust coverage to safeguard against both internal and external criminal threats.
Primary Features:
- Four insuring clauses with the option for computer fraud extensions
- Covers permanent as well as temporary employees hired through agencies
- Available coverage for operations in specific countries or regions.
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2. Bajaj Allianz
Bajaj Allianz is known for its flexible and affordable crime insurance policies. Their policies help businesses to mitigate both internal and external criminal acts.
Primary Features
- Employee Dishonesty or Theft
- Affordable Premiums designed for MSMEs
- Customizable Coverage Limits
3. Iffco Tokio
Another crime insurance provider, Iffco Tokio covers a broad range of criminal activities, including employee theft, computer fraud, forgery, and counterfeiting, ensuring that your business is protected from the risks associated with these criminal acts.
Primary Features
- Protection against losses resulting from dishonest acts committed by employees
- It covers criminal acts committed by third parties, such as transit theft and on-premises theft, among others.
- Coverage for legal fees and costs
- Covers losses resulting from forged financial documents
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4. SBI General
SBI General is a recognized provider of crime insurance in India. It provides its offerings globally with flexible crime insurance solutions for businesses.
Primary Features
- Premises Loss Coverage
- Transit Loss Coverage
- Forgery and Security Fraud
- Counterfeit Currency Coverage
5. Raheja QBE
Another crime insurance provider in India, Raheja QBE, provides coverage against both internal and external threats. They aim to ensure businesses are protected against both traditional crimes and emerging threats.
Primary Features
- Employee Fraud and Dishonesty
- Third-party fraud
- Property protection
- Physical Loss of Money or Securities
- New Entities Coverage
6. TATA AIG
TATA AIG is another renowned provider of crime insurance in India. Their policies offer specialized protection against fraud and employee dishonesty.
Primary Features
- Customized coverage plans
- Efficient loss investigation and settlement process
- Covers both permanent and temporary employees
7. Go Digit
Go Digit offers Commercial Crime Insurance Policies to companies of all sizes. Their policies protect against financial and property losses resulting from criminal activities, such as theft, robbery, and fraud.
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Primary Features
- Coverage for Financial and Property Losses
- Cash and Valuables Coverage
- Comprehensive Protection covering both internal and external threats
- Legal Liability Coverage
| Provider | Ideal For |
|---|---|
| HDFC ERGO | Mid to large businesses |
| Bajaj Allianz | MSMEs and small enterprises |
| Iffco Tokio | Businesses seeking broad protection |
| SBI General | Companies with global operations |
| Raheja QBE | Businesses needing extensive protection |
| TATA AIG | Enterprises need tailored protection |
| Go Digit | Small to medium-sized businesses |
Conclusion
Choosing the right crime insurance provider can be overwhelming, especially with providers like HDFC ERGO, Bajaj Allianz, IFFCO Tokio, and others. Here, Mitigata stands out as your best broker partner in crime insurance in India, offering the best rates, specialized coverage, and personalized support to ensure your business is safeguarded from all potential threats.
Contact Mitigata now if you’re looking for the proper protection so you can focus on growth without worrying about unexpected risks.
Let’s Talk Crime Insurance—
Before You Actually Need It
Frequently Asked Questions (FAQs):
Q1. What is crime insurance, and how does it work?
Crime insurance protects businesses from financial losses caused by criminal activities. This includes employee theft, forgery, computer fraud, funds transfer fraud, and theft of money and securities from premises or in transit.
Q2. Does crime insurance cover employee theft?
Yes, crime insurance covers losses resulting from employee theft or embezzlement, providing protection for stolen money, securities, and property. This can also include coverage for theft of inventory and fraud committed by employees.
Q3. Is burglary and theft insurance included in crime insurance?
Yes, burglary and theft insurance is a part of many crime insurance policies, protecting against theft of money and securities both on your premises and while in transit. This coverage helps businesses recover losses from physical theft or burglary incidents.
Q4. What should I look for when choosing a crime insurance provider?
When selecting a crime insurance provider, look for flexible coverage options that address theft of money, property and securities. Additionally, check the provider’s claims process and customer service reputation to ensure timely support during incidents.
Q5. What is theft insurance?
Theft insurance is a type of coverage that protects businesses from financial losses caused by the theft of their property, goods, or assets. This can include theft by employees, third parties, or even external break-ins. It typically covers stolen money, inventory, or other valuable assets, ensuring businesses recover some or all of their losses.
Q6. Can I claim insurance for theft?
Yes, you can claim insurance for theft if you have a theft insurance policy or a crime insurance policy that covers losses due to theft. The claim process involves reporting the theft to your insurer, providing necessary documentation, and sometimes filing a police report. If the claim is approved, your insurer will compensate you for the covered losses, up to the policy’s limits.
Q7. What is the crime insurance policy in India?
In India, crime insurance protects against financial losses resulting from various criminal activities. This includes employee theft and dishonesty, fraudulent transactions, forgery and property damage caused by theft.
Q8. What is the difference between crime insurance and cyber insurance?
Crime insurance focuses on covering financial losses due to criminal activities. These activities are theft of money, securities, or property.
Cyber insurance, on the other hand, covers losses resulting from cyberattacks, such as data breaches, ransomware, or hacking. While both policies protect businesses from financial loss, cyber insurance is specifically designed for digital threats, whereas crime insurance is for criminal activities.
Q9. What is the difference between cyber crime and social engineering?
Cybercrime refers to criminal activities that involve computers or the internet, such as hacking, data breaches, malware, or ransomware attacks. These activities typically target digital systems or data.