Fidelity & Crime

Fidelity insurance protects organizations from loss of money, securities, or inventory resulting from crime

Common Fidelity claims allege employee dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, and other criminal acts. Exposures covered by crime insurance usually fall into two categories, although many polices combine both types of coverage:

Money and Security Coverage pays for money and securities taken by burglary, robbery, theft, disappearance and destruction.

Employee Dishonesty Coverage pays for losses caused by most dishonest acts of your employees, such as embezzlement and theft

According to a leading international accounting firm:

  • 80 percent of workplace crime is carried out by employees
  • One in four employees has either committed or witnessed workplace fraud and abuse
  • One in four employees committing fraud against their employer has been with the company for more than 10 years
  • Only one in three of those who have witnessed a workplace crime bother to report it

WHY KRAUTER FIDELITY & CRIME?
Most business insurance policies either exclude or provide only nominal amounts of coverage for loss of money and securities as well as employee dishonesty exposures. The American Management Association has estimated that employee dishonesty causes as much as 20 percent of the nation's business failures. Krauter & Company has the knowledge and experience to identify a company and exposure to these risks and implement a comprehensive program of coverages, including:

  • Employee theft
  • Money and securities while on premises or in transit
  • Forgery
  • Funds transfer fraud
  • Computer fraud
  • Money order and counterfeit currency fraud
  • Credit card fraud
  • Optional client coverage
  • Coverage for investigative costs for covered losses
  • Responds to Employee Retirement Income Security Act of 1974 (ERISA) plan bonding requirement
  • Broad definition of employee, including directors and officers; employees, including part-time, leased, temporary, and seasonal employees; and volunteers
  • Worldwide coverage

MORE INFORMATION? CONTACT US.
For more information about Krauter & Company’s Fidelity & Crime capabilities and professionals, send your request to: info@krautergroup.com

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