Employee Fraud

Overview

Overlooked on most companies' insurance policy, this product covers the stark and costly reality of employee fraud. It provides your clients with comprehensive protection against loss of 'insured property' following theft or fraud by their employees - protecting money, balances, stock, work in progress, equipment and machinery. Our Employee Fraud cover is available as a stand-alone product or part of a combined policy (also known as a Fidelity Guarantee, Crime Insurance and Staff Honesty and Fraud by Employee Cover).

Key product features

Our Employee Fraud cover includes the cost of:

• Professional fees required to establish the extent of a loss.
• Labour to reinstate or erase computer records.

Your clients also have the option to extend their protection further to cover:

• Third-party cheque forgery.
• Third-party computer and fund transfer fraud.
• Losses occurring under a previous policy.
• Third-party money and property under the control of the insured.

Additional benefits

We know that these types of losses can continue over a number of years. That's why, once cover is in place, your customers can make a claim at any time, while the insurance remains in force, even if the discovery of a loss is many years after the policy began. In addition, if your clients wanted to cancel this policy, we can provide 24-months cover from the cancellation date, just in case they discover a loss at a later date.

Employee Fraud is available as either a stand-alone policy or as part of a combined product, with one renewal date for all your clients' insurance needs for ease.

Useful guidance

Our target market is Small Medium Enterprises as these types of businesses are less likely to survive serious fraud losses. There needs to be no claims made or losses incurred in the last five years. This product isn't suitable for banks, city dealing and risks trading companies, stockbrokers, commodity brokers and other financial institutions.

For a summary of cover and exclusions, please see our summary of cover document.

Claims

We provide a dedicated claims management service.

New Claims

• Notify new claims by email, fax or post.
• UK-based.

Report new claims

Reported Claims

• Experienced and specialist handlers in London and Norwich.

Manage reported claims