Crime Insurance Insight | Also Known As ‘Fidelity’ Or ‘Employee Dishonesty’ Insurance
Regardless of size, every organization is a potential target for crime. Experts acknowledge that crime is among the fastest-growing and most prevalent problems facing businesses today. In fact, research shows that in the past 3 years, 21% of surveyed organizations experienced some form of employee fraud. Examples of real Canadian crime insurance claims include:
Crime insurance is specifically designed to reimburse organizations for the loss of money, securities, or inventory resulting from crime. The constantly changing economic environment, advancements in technology and international expansion make the threat of crime-related losses more ominous than ever before.
Loss Scenarios That Crime Insurance Can Address
Employee-related and third party theft can happen in an instant or over a period of months or years. Some examples of potential loss scenarios that a crime policy can cover are noted below.
Preventative measures can include reviewing internal controls, inventory management/protection protocols as well as a crime insurance policy.
ALIGNED Crime / Fidelity Insurance | 1-866-287-0448
Our advocates can help ensure that together with a comprehensive risk management program, your crime insurance will be structured to address many potential loss scenarios.
Source: IRMI
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