Many employers want to give ex-convicts jobs, but they have had a difficult time finding commercial crime insurance.

A new regulation in New York State will prohibit insurers from excluding companies from commercial crime policies if they employ people who have been convicted of a crime.

The New York Department of Financial Services‘ new rule, said to be the first of its kind, prohibits insurers from excluding or limiting coverage for loss or damage caused by an employee with a criminal record, as long as the companies considered factors outlined in state law when hiring workers with criminal records.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.