Overview
With firms facing the varied challenges of mergers, downsizing,
globalization and rapid expansion, maintaining internal controls
against employee theft and fraud can be a daunting challenge.
Factor in the interconnectivity of the digital age, and the speed
at which theft and fraud can occur is staggering.
Now, more than ever, companies need a way to protect themselves
from employee dishonesty and safeguard their assets from the
devastating effect theft can have on their bottom line.
Details
Optional insuring clauses available:
- Employee theft
- Forgery or alteration
- In premises theft
- In transit theft
- Money orders and counterfeit
paper currency fraud
- Computer fraud and funds transfer
fraud
- Client coverage
- Credit card fraud
- Expense coverage
Coverage Features include:
- Separate deductibles for each insuring
clause
- Broad definition of employee
- Automatic coverage for volunteers, leased,
temporary and seasonal employees
- Includes ERISA coverage for employee benefit
plans solely sponsored by the insured when employee theft is
purchased
- No involvement of police required
- No manifest intent wording
- Automatic coverage for newly acquired
subsidiaries which increase the total revenues by less than
15%
- Use of insured’s inventory records and actual
physical count of its inventory to prove the amount of loss
- Optional 12 month discovery period
We will pay these losses
Subject to the terms and conditions of the
actual policy in addition to losses arising from the insured perils
listed above, we will pay claims for:
- Damages awarded against the assured
- Defense costs and expenses
Limits available
Limits available up to US $10,000,000
Target market
All US domiciled companies except financial
institutions
Key territories
Worldwide
Not all coverages or products described on
this website are available in all US jurisdictions. Some products
are available on an admitted basis in some but not all US
jurisdictions from Beazley’s US insurance company subsidiary, while
other products and coverages may be available in the US only on a
surplus lines basis through licensed surplus lines brokers doing
business with Beazley’s Lloyd’s of London syndicates.
The descriptions contained in these pages
are for preliminary informational purposes only. Coverages will
vary depending on individual state law requirements and may be
unavailable in some states. The exact coverage afforded by the
products described on this website is subject to and governed by
the terms and conditions of each policy issued. The
publication and delivery of the information contained herein is not
intended as a solicitation for the purchase of insurance on any US
risk.