Crime Insurance
Chubb Specialty Insurance

Every company, regardless of size, is a potential target for white collar crime. Australia wide fraud is estimated to cost corporations around $4 to $5 billion a year. Experts acknowledge that this is one of the fastest-growing, most prevalent problems facing business today. The changing economic environment, advancements in technology and international expansion make the threat of loss more ominous than ever before.

A comprehensive Crime policy is an absolute necessity for corporate managers concerned with protecting their company's assets today and in the future. White collar criminals may not look dangerous, but they can cause financial havoc inside a company and destroy a business and its credibility.  You can take preventative measures through the implementation of a comprehensive risk management program, which should also include Chubb's Crime policy.

The Crime policy can provide coverage for the following:

• Employee Theft: Losses of money, securities and other property cause by theft or forgery by an employee.
• Premises cover: Losses sustained due to the destruction, disappearance or abstraction of money and securities within or from the Insured's premises by third parties.
• In Transit cover: Losses sustained due to the destruction, disappearance or abstraction of money and securities outside the Insured's premises by a third party, while being conveyed by the insured or any authorised person.
• Forgery cover: Losses resulting from instruments which have been fraudulently drawn upon the company's accounts by a third party.
• Computer Fraud cover: Losses resulting from the unlawful taking or fraudulently induced transfer of money, securities or property through the use by a third party of a computer network and facilities either owned and operated or leased and operated by an Insured .
• Funds Transfer Fraud cover: Losses sustained by an Insured resulting from fraudulent instructions issued to an financial institution by a third party directing them to transfer or pay or deliver money or securities from the Insured's bank account without the Insured's knowledge and consent.
• Counterfeit Currency Fraud cover: Losses sustained by the Insured where the insured accepts in good faith and in the ordinary course of business either counterfeit currency or a postal or money order supposedly issued by the post office but not paid upon presentation.
• Credit Card Fraud cover: Losses sustained by an Insured resulting from the forgery or alteration of any written instruction by a third party, required in connection with any credit card issued to an Insured to any employee or partner of an Insured that is a partnership.
• Client cover: Losses sustained by a client resulting from theft fraud or dishonesty by an employee not in collusion with the client's directors or employees.
• Expense cover: covers investigative costs or computer violation expenses incurred in establishing the existence and amount of any direct loss in excess of the deductible.