Crime policies insure against the risk of theft of money, securities or other property by employees or outside individuals of a company. While the advancement of computer technology and the internet have created an entirely new avenue for criminals to steal corporate assets, the motivation for stealing remains unchanged: greed, adverse personal circumstances, and low morale.

 

The traditional and emerging threats to balance sheets of an organisation or fund sheets from dishonest, fraudulent and malicious actions of employees and third parties amplify the need for proper insurance coverage that addresses these exposures.

 

Any failure of a professional or financial institution to protect their assets adequately from criminal activities can have serious internal and external consequences. A number of high profile cases have demonstrated that the effects of fraud can be far reaching, damaging cash flow, the company’s reputation and the morale of its employees.

 

With corporate crime on the increase, professional and financial institutions continue to represent attractive targets for fraudsters, noticeably in sophisticated crimes such as:

• Identity theft

• Mortgage fraud

• Documentary fraud

• Computer / information technology crime

• More traditional crimes of robbery and hold-ups

 

For more information on Comprehensive Crime Insurance please contact us.