Crime insurance protects a company from loss of money, securities, inventory or other property resulting from fraud events. Crime Insurance provides coverage against: The direct loss from dishonest or fraudulent acts committed by your employees or third parties. . Fraud can take many forms – including the theft of cash, stock and other assets; forgery, embezzlement and computer crime – and can continue for many years, often discovered purely by chance. The financial impact on a business can be devastating, but what is often overlooked is the resulting threat to your business processes, how it erodes the integrity of your employees and tarnishes your reputation.
For most organisations, it is a question of when, not if, they will suffer economic crime. The risks companies are facing are not just increasing but becoming more complex. And the threat is not just from your own employees but also from suppliers, customers, agents, hackers and unknown third parties.
A PwC Fraud Survey 2016 shockinly discovered the following:
IF two thirds of the fraud cases are committed outside an organization, this leaves the distrubing reality that one third are committed from within an organization.
A company’s first line of defence against fraud is its internal controls and procedures. But no matter how robust a company’s controls are, they are only as effective as the individuals who are operating them.
Speak to Mr Robin Brown or Ms Romi Gill on 2530 2530 - firstname.lastname@example.org for their help in finding you robust commercial crime protection.