Protecting the money handling industry.
Our programs are designed to meet the needs and exposures of the check cashing industry. Some of the coverage available includes:
- 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, your employee or a carrier for hire.
- Forgery or Alteration: Meets the statutory requirements for coverage on losses due to the acceptance of forged checks, drafts or travelers checks.
- Extortion / Kidnap Ransom: Covers the surrender of covered property away from the premise of the insured as a result of a threat communicated to the insured to do bodily harm to an officer, employee or family member of the insured who is being held captive.
Let’s have a conversation.
We understand the check cashing industry and the need for flexibility in your coverage options and costs. Recognizing these factors and by having a conversation with you, we can come up with solutions uniquely suited to the way you operate.
For example, you may have the ability to purchase increased limits for your busiest times such as Fridays, 1st part of the month, tax season, or other periods.
Check cashers are an integral part of the communities they serve, by supplying additional services which extend far beyond that of cashing a check. Because of this, we have fostered a variety of surety bond services for our clients. We can offer bonds that range from $1,000 to over $2,000,000 in value. Surety bonds are becoming an important factor to the check cashing industry as it grows and becomes more diversified.
Some of the additional services that require bonds are:
- Utility payment collections
- Motor vehicle registrations
- Sale of money orders
- Payroll distribution contracts
- Collection of local taxes
- Direct Deposit programs
- Forgery bonds
- License bonds
- Lottery bonds
- Notary bonds
To learn more about how Marshall & Sterling can help businesses in the check cashing industry, reach out to a member of our Specialty Risks Division today!