Crimes and Misdemeanors

Take the Sting Out of the Cost of Crime

Crime & Fidelity insurance protects organizations from loss of money, securities, or inventory resulting from crime. Common Crime & Fidelity insurance claims allege employee theft, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, telephone fraud, ERISA/employee dishonesty, and other criminal acts.
Some policies now cover social engineering losses involving an employee being duped into transferring funds to a fraudster. This type of loss is increasingly common in today’s interconnected world, where fraudsters hide in the anonymity of cyber space. They deceive employees into parting with money or securities by posing as a trusted vendor, new client, or employee. Even companies employing best practices, such as vendor background screenings, implementation of fraud detection systems, segregated financial duties, and fraud detection training, are vulnerable.