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Crime and Employee Infidelity  

Protect your business against criminal behavior of a dishonest employee or a dishonest third party – including collusion between the two.

Crime Insurance provides coverage for loss of money, securities, or other assets resulting from acts such as employee theft, certain types of fraud by third parties (forgery, for example), theft of property from the premises, and social engineering (impersonation fraud). 

Crime insurance helps reduce organisations’ vulnerability to direct losses stemming from theft and certain types of fraud. It is an often overlooked insurance because crime-related losses are not typically covered by commercial property insurance, so it’s vital to ensure that your business is protected.

Who is it for?

Businesses of all sizes from SMEs (who may lack the security and resources of larger firms) to major financial institutions.  

See our Risk Appetite

CrimeManager Complete

Overview

Comprehensive crime cover for mid to large sized UK companies. CrimeManager Complete includes cover for employee fraud, dishonesty and fraudulent acts committed by third parties.

Fraud is not just a one-off occurrence and companies can be subjected to repeated attacks by their own employees or outsiders. 

Market

UK domiciled companies 

Cover

Comprehensive crime cover incorporating employee fraud and dishonesty, and specified fraudulent acts covered by third parties

Care, custody and control

Any one loss limit of liability

Retroactive cover available

Includes all pension funds and associated and subsidiary companies of the insured

Fees, costs and expenses (sublimited)

Pre-loss consultant services (10% premium contribution)   

Features & Benefits

As well as the Insured’s own money, securities and property the policy automatically includes that belonging to third parties for which the Insured is responsible (sublimited)

Covers costs of defending third party accusations of employee dishonesty – even unfounded allegations which could otherwise be costly, time consuming and disruptive (sublimited)

Insureds have a choice of investigative specialists to utilise – with costs covered by AIG (up to sublimits provided). This means faster claims resolution and enhanced recovery prospects

Wide definition gives better protection to the Insured and addresses exposures created by a company’s decision to outsource functions previously performed internally.

For Financial Institutions

For financial institutions; Covers fraud, dishonesty, theft, forgery and third party computer and funds transfer fraud. Also includes cover for identity fraud and payment of loss investigation fees.

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For private companies, not-for-profits, partnerships and insurance brokers

PrivateEdge has been developed for private companies, for partnerships and for charities, affinity groups and other not for profit organisations. We have special policy wordings for each of these three segments reflecting the different structures and needs of each customer group.

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Claims First

See our Value Proposition for Financial Lines Claims 

Benefits

Safeguarding reputations

We protect companies because we know that the financial loss is not the only impact of fraud. Real protection understands that what’s also required may be to help retain disappointed customers and revive damaged brands and employee morale.

Crime and the global economy

Thanks to the internet, criminals can attack from anywhere in the world, making them harder to track down. They are good at keeping a step ahead of system security measures and software. Insurance provides financial support without the need to bring thieves to justice.

Staff and inside jobs

It can be hard to accept that your own staff might be stealing from you. Unfortunately, the truth is that it may be the most trusted and senior staff who have the knowledge to skirt round security and set up well-concealed fraud systems.

Investigation expertise

Our cover includes access to investigative experts to establish the size of the loss and how it was done. This can help free up management time at a difficult time, while speeding up the process, helping avoid similar occurrences in the future and promoting confidence as the matter is professional dealt with.

Related Documents

Get Financial Lines documents

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Winning with AIG

See our Risk Appetite

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