Think your clients need ‘all risks’ crime cover? Think Aviva
With 175 years of experience in insuring companies against fraud, we acknowledge that the fraud landscape is constantly evolving; we want to protect customers from those emerging frauds, so our cover is evolving too. This is why we’ve launched our Commercial Crime ‘all risks’ policy.
Recognising too that frauds can result in other costs and expenses, the policy includes some additional extensions that we believe to be unique in the market. These include covering recruitment costs where employees have been dismissed as a result of a fraud and providing protection for circumstances where funds have been transferred to the wrong account and the insured has been unable to recover the monies.
Other key highlights include:
· Competitive pricing
· “Any One Claim ” Limit of Liability
· Excesses starting at £5,000 (dependent on risk & exposures)
· Large capacity – we can write up to £25m per risk
· Innocent Non-Disclosure Clause
· No voluntary surrender or postal service exceptions
· ‘Major Shareholders’ exception which allows cover to trigger in excess of their shareholding in the business
· Unlike many of our competitors, in respect of the insured’s own exposures we do not limit loss to specified Money, Securities, Property & Funds. This is due to the fact that, if a direct financial loss is sustained and the loss cannot be linked to one of those defined terms, there can be a potential gap in cover.
The policy does not include any minimum standards of control as it is assessed by proposal form. If your customer would like an indication of terms prior to completing the form we would be delighted to provide this upon receipt of information including: wageroll, turnover, employee numbers, location numbers and any relevant loss history.
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