Crime and Equipment Policies for Sports Organizations

Source: sadlersports.com - Crime and Equipment Policies for Sports Organizations
Author: John M. Sadler

The difference is important

Some administrators who make the insurance purchasing decisions for sports organizations are confused over the difference between Crime Insurance and Equipment Insurance.  They mistakenly believe that theft of equipment by outsiders or vandalism of equipment is a crime covered by a Crime Policy.  This is not correct.

Here is an easy way to distinguish between the two policies:

Equipment Insurance = Loss of sports equipment due to fire, wind, vandalism, theft, etc.

Crime Insurance = Employee/Volunteer theft of equipment or embezzlement of funds.

Of course, the above explanation is an over simplification, but it is an easy way to understand the main differences between the two policies.

Read Full Story: http://www.sadlersports.com/blog/the-difference-between-crime-and-equipment-insurance-for-sports-organizations/