Crime Insurance / Fidelity Insurance

What you need to know

What is Crime Insurance / Fidelity Insurance?
Crime Insurance / Fidelity Insurance protect organisations from loss of money, securities or inventory resulting from crime. Common claims include employee dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting and other criminal acts.

Who needs Crime Insurance / Fidelity Insurance?
As companies cut back staff, merge and consolidate, businesses are under threat of fraud and invasive acts by third parties, as well as by the “trusted employee” working within the company. Employee fraud is an increasing problem that includes serious scams such as asset misappropriations, fraudulent financial statements, bribery and even corruption. Combine this with the fact that crime-related losses are not covered by property insurance policies, and comprehensive Crime Insurance / Fidelity Insurance are a necessity for most businesses.

The Winley Insurance Group solution
Whilst fraud will never be completely eliminated, there are risk management procedures that can diminish its frequency. At Winley Insurance Group, we combine proactive risk management techniques with comprehensive commercial Crime Insurance / Fidelity Insurance to protect your business and minimise the risk of employee fraud.

Crime Insurance / Fidelity Insurance policies cover:

• Dishonesty of employees including losses by unidentified employees
• Theft on premises or in transit
• Receipt of counterfeit negotiable instruments
• Issue or receipt of forged cheques, credit cards or bills of exchange
• Theft of funds by computer fraud
• Employee criminal taking of money, securities or property to the deprivation of a client
• Third party criminal taking of client money, client securities or client property in the insured’s control and for which the insured is liable

Crime Insurance / Fidelity Insurance policies provide expenses cover with a separate limit of liability for:

• Contractual penalties included as standard
• Loss of interest included as standard
• Data reconstitution costs included as standard

Crime Insurance / Fidelity Insurance policies cover extortion by detention:

• Surrender of money, securities or other property on the insured’s premises where criminals have detained an employee or employee’s relative (or civil partner) to force such surrender

Crime Insurance / Fidelity Insurance policies provide other cover features:

• Each and every loss limit can be offered
• Worldwide jurisdiction for global companies
• Innocent nondisclosure of material information will not invalidate cover
• Unlimited retroactive dates can be offered, we will only exclude losses discovered prior to the policy's commencement
• Discovery period of up to 24 months can be negotiated
• Newly acquired companies: automatic cover if acquisition does not increase employee or turnover numbers by more than 25 percent, includes acquired companies with previous losses or business activities that are different to the insured
• Major shareholder exclusion threshold increased from 5 to 10 percent and any losses caused by persons owning more than 10 percent are included over and above the financial value of their shareholding
• No basis of the contract clause
• No manifest intent requirement
• No requirement to identify the perpetrator
• Associated companies of the policyholder included as standard
• Automatically covers theft from an insured by an individual or any organisation to whom the insured outsources any function
• No terrorism exclusion

Contact us for additional information or a Crime Insurance / Fidelity Insurance quote
If you’re looking for Crime Insurance / Fidelity Insurance or you just want to learn more, Winley Insurance Group can help! Our team works to help you secure reliable Crime Insurance / Fidelity Insurance cover at the best possible rates.  Contact us at 1300 732 205 or begin our Crime Insurance / Fidelity Insurance quote process now. Winley Insurance Crime Insurance / Fidelity Insurance Specialists service all of Australia.