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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.


Make sure crime does pay. Protect your firm from theft or forgery.

What is Commercial Crime Insurance?

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Protect your firm from loss due to theft.

Your client's data and any funds you are responsible for can be desirable to external, or third-party, digital theft and cybercrime.

Designed to stand alone or build on coverage provided by your Business Owner's Policy or commercial policy, crime insurance can protect your firm from any losses due to theft, fraud, or burglary committed by your employees or outside entities. 

Should a Law Firm Carry Crime Insurance?

Attorneys tend to be very careful when hiring employees and new attorneys. We place a lot of trust in other members of the firm and put internal and external oversight risk management controls in place. That should let you feel confident that your firm has every protection in place to prevent theft and fraud.

Unfortunately, no firm is safe when it comes to occupational fraud and abuse. Fraud can happen in any firm, at any time, so it is important to have the right Crime coverage in place.

A Commercial Crime Insurance policy should be carried if:

  • Your employees have access to any funds, data, or client information
  • Your firm uses any funds transfers
  • Your firm maintains any social media, or online, presence

What does Commercial Crime Insurance for Law Firms typically cover?

Policy coverage for:

  • Partner or Employee Theft from the firm
  • Theft or Disappearance of Money or Securities
  • Forgery
  • Computer Fraud
  • Funds Transfer or Wire Transfer Fraud
  • Money Order or Counterfeit Currency Fraud
  • Credit Card Fraud (for misuse of corporate cards)
  • Theft by Partners or Employees from Clients

More Law Firm Insurance Options

Check out the most popular law firm insurance products available

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Directors & Officers Liability Insurance

Directors & Officers

Directors & Officers (D & O) Insurance protects lawyers from personal losses if they are sued as a result of serving as a director or an officer of an organization.

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Employed Lawyers Insurance (Miscellaneous E & O)

Employed Lawyers Liability Insurance

Offered as a Miscellaneous E & O policy, get coverage for your professional legal services when offered as an in-house attorney.

Not sure which insurance you need?

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Choosing the right partner to protect your firm shouldn't have to be difficult. With ALPS, you can get some time back in your day to focus on why you got into this business in the first place - helping people.

ALPS is Law Firm Insurance Made Easy