White-collar crime should be of great concern to all risk management professionals. Even the most minimally outfitted office with only one employee should be covered completely for the protection of you and your business. We outline the peril of theft in all its forms below. It is crucial to identify crime exposures facing an organization. This includes identifying the entities and the dishonest acts to be covered.
Theft can pose loss to an organization as disruptive and costly as a wrongful termination, fire at a critical location, or a claim for products liability. "Theft" is defined as "the unlawful taking of property to the deprivation of the insured."
This coverage protects against loss of money, securities and other defined property that results directly from theft commited by covered employees.
This coverage insures against loss of money and securities caused by theft, disappearance, or destruction while located inside your premises or banking premises. It also covers damage to premises resulting from actual or attempted theft. It insures only money and securities.
This endorsement adds coverage for loss of funds resulting from fraudulent instructions directing a financial institution to transfer or pay funds from your transfer account. The instructions can be transmitted electronically (e.g., via the Internet), over the telephone, by fax, or in writing.
This insurance covers loss or damage to money, securities, and other property that results from non-employees using any computer to fraudulently cause a transfer of that property from inside your premises or banking premises to a person or place outside those premises.
Foremost Insurance Group
Patriot Insurance Company
Philadelphia Insurance Companies