Fidelity / Crime
Crime coverage in insurance is primarily dealing with loss of money from the company. White collar crime is on the rise! Whether it is inside or outside the organization, there are a wide variety of possible exposures.
Inside the Organization, the primary exposure is from Employees (or a Partner) acting alone or in collusion with others, to set up false payees and funnel money to themselves;
Outside the Organization, there is a very wide range of exposures:
- From Robbery, burglary, hold-up inside or outside the premise
- To fake Money Orders and Counterfeit Paper Currency
- Cheque or Credit Card Forgery
- Computer and Funds Transfer Frauds:
There is also possible coverage for Extortion, where staff might be threatened leading them to steal or direct funds elsewhere.
Coverage can even extend when your business has a Pension or Employee Benefit Plan
“Collis” today to talk about covering possible Crime exposures to your business