Commercial Crime Insurance protects a company and its clients against direct losses caused by the forgery or theft of money, securities or property by an employee or third party.
Historically, there have been many cases of employees stealing large sums of money from their employers through fraudulent activity, such as by generating fake invoices or manipulating expense procedures. Even the best internal controls can fall short of stopping a trusted employee from engaging in fraud. In fact, employees often know best how to circumvent such controls.
More recently, and as technology develops, there has been a surge of external frauds which would also be picked up under a Commercial Crime. Some external frauds can also be covered by Cyber Insurance or Professional Indemnity insurance and there is often an element of overlap between all three covers.
Champion Professional Risks can tailor a bespoke solution for your business which dovetails all these covers or you can select the covers relevant to your particular needs.
