Check Cashers provide unique services which require exceptional coverages. It was with this in mind that Marshall & Sterling and their select group of insurance companies developed various programs to meet the needs of this industry on a national basis.
Coverage Available Under Our Crime Programs
Our programs are designed to meet the special needs and exposures of the check cashing industry. Some of the hard to find coverages and unique features available under our policies include:
- Employee Dishonesty Coverage - Covers direct loss caused by a dishonest employee of your operation.
- On-Premises Coverage - Covers direct loss of covered property as a result of robbery, safe burglary, theft, damage or destruction while on your premises.
- In Transit Coverage - Covers direct loss resulting from robbery, or theft of covered property while being transported by you or your employee.
- Forgery or Alteration - This is true incoming check forgery coverage. It covers loss due to acceptance of forged or altered checks, drafts, and travelers checks.
- Extortion/threats to person - Covers the surrender of covered property away from the premises of the insured as a result of a threat communicated to the insured to do bodily harm to an officer, or an employee of the insured who is being held captive.
Flexible and Affordable
Marshall & Sterling and their selected "A" rated insurance carriers are ready to listen to your needs and provide you with the flexibility necessary when tailoring your coverages. You have the ability to purchase standard limits to match your everyday exposures as well as the ability to purchase increased limits for your busiest times such as Fridays, 1st of the month, tax season etc. Crime coverage limits can range anywhere from $10,000 to $125,000,000 per location.
Meeting All Your Insurance Needs
In addition to handling your crime insurance, Marshall & Sterling can also provide you with the following optional coverages:
- Property and Liability
- Business Income and Extra expense
- Umbrella
- Directors and Officers Liability
- Employment Practices Liability
Premium financing is available for all insurance policies purchased
Surety Bonds
Surety bonds are becoming an important factor to the check cashing industry as it grows and becomes more diversified. Check cashing stores are an integral part of the communities they serve. Some of the additional services which have required bonds are:
- Utility Payment Collections
- Motor Vehicle Registrations
- Sale of Money Order
- Payroll Distribution Contracts
- Collection of local taxes
- Food Stamp or Electronic Benefits Distribution.
- Direct deposit programs
Marshall and Sterling has provided Surety Bonds which have ranged from $1,000 to over a $1,000,000 in value.
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