Corporate crime insurance protects against the serious risk that employee dishonesty and fraudulent third parties pose to companies. In Australia alone, fraud is estimated to be a multi billion dollar industry and one of the fastest growing problems facing business today.
Robust internal controls can help prevent dishonest and fraudulent acts, but no controls and procedures are fool proof. In order to effectively manage the risk exposure, internal controls should be accompanied by a comprehensive crime insurance policy.
Events covered by Corporate Crime Insurance
- Employee Theft: Losses caused by theft or forgery by an employee
- Third Party Crime: Losses caused by theft or fraudulent act of a third party
- Computer Theft and Funds Transfer Fraud cover: Losses caused from the intentional taking of securities through the use of a computer or fraudulent instructions to a financial institution to transfer securities
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Arthur J. Gallagher’s insurance broking services are designed to support you every step of the way. Contact a broker today to find out more. Find an expert