The recent years have seen cases of employee fraud, embezzlement and dishonesty making headlines as never before. When considering the numerous other cases that stay out of the spotlight due to their smaller magnitude, the recurrence of such stressful incidents is quite worrying.
Fraudulent schemes cunningly exploit weaknesses in a company’s financial controls and range from fictitious employees & suppliers, creation of new schemes, theft of money and so on.
Their impact on the bottom line of a company can be catastrophic.
To avoid such scenarios, most companies have in place a rigid and solid mechanism of internal controls, usually at very high cost. Unfortunately, there will always be the risk that these controls are inadequate to deal with a specific form of fraud.
In order to be on the safe side, it is always wise to also be covered by a Commercial Crime Policy.
Our Commercial Crime Policy covers many acts of fraud and crime, be it by employees or third party and will indemnify you against:
- Employee Dishonesty
- Computer Fraud (Incl. Third parties)
- Fraudulent Transfer Instructions
- Counterfeiting or forgery
We also have a Fidelity Guarantee which covers acts of employee fraud and is less exhaustive than the Commercial Crime Insurance cover described above. However, it might be more suited to your needs.
- Why insure with us:
- Personalised service through dedicated teams
- Over 65 years of experience