Highlights

Crime insurance (or fidelity bonds, as policies covering financial institutions are known) protects an organization from loss of money and securities, resulting from theft by its own employees.

It also insures against third party related losses for forgery or alteration; on premises; in transit; money orders and counterfeit currency fraud; computer fraud; client property coverage; credit card coverage and expense coverage. Coverage is also available for computer crime exposures including Account Takeover funds transfer fraud.

Key territories

Our focus is writing business that is domiciled in the United States on an admitted basis.

Target market

Commercial Crime:

Companies with $50M annual revenues and greater in retail, healthcare, technology, and manufacturing

Commercial crime now includes fraudulent instruction coverage to address losses from the transfer of funds as a result of fraudulent instructions from a person purporting to be a vendor, client or authorized employee, otherwise known as "social engineering" losses. The new endorsement, which has a limit of up to $250,000, is for Beazley clients who currently carry our commercial crime policy.

Fidelity Bond: companies with $500M assets and greater in these industries:

• community banks; new exclusive coverage available for those with $10B assets and below
• asset managers
• insurance companies
• investment advisors/mutual funds

Limits

Up to US $25,000,000

News & Views

Advisen interview with Bill Jennings on digital con artists

Advisen editor Erin Ayers recently spoke with Beazley Commercial Crime underwriter Bill Jennings on the deceptive practices of criminals who prey on an employee's goodwill to gain access to company funds. Read the full article.

Don't be fooled by cyber masqueraders

Our latest Insight by Bill Jennings outlines the real threat posed by cyber "posers."

Announcing fraudulent instruction coverage

Read this press release about how our commercial crime policy now covers "cyber masquerading" risks.