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CorporateGuard Comprehensive Crime Insurance (Financial Institutions)

Overview:  For financial institutions; Covers employee fraud and dishonesty plus protection against third party fraud, including premises and transit, documentary fraud and computer and funds transfer fraud.

Who is it for?:  The impact of new technology and the globalisation of transactional economies have combined with the more traditional threats to an organisation’s balance sheet from fraudulent, dishonest and malicious acts to further amplify the need for proper insurance coverage.

In our enhanced Comprehensive Crime wording, we’ve addressed many of the various exposures faced by financial institutions within a plain language, definition-based wording. The main cover is contained in four insuring clauses which, together with the free extensions contained within the wording, alleviate the need for several different contracts often required to address clients' exposures.

CorporateGuard Comprehensive Crime has also taken into account many of the latest enhancements to crime policies currently available, whilst maintaining a forward-looking vision of financial institutions’ exposures.

We have considerable experience of insuring financial institutions against fraud and will maintain our traditional underwriting flexibility - amending or manuscripting our insurance contracts to ensure they meet the individual requirements of an even wider range of clients.  

Cover Back To Top
  • Wrongful acts of employees include dishonest, fraudulent and malicious acts
  • Premises and transit cover on an all risks basis, including ATMs, safe deposit boxes and loss of subscription, redemption, conversion or deposit privileges
  • Damage to office premises and contents due to malicious mischief
  • Fraud cover for documents of value, securities, instructions, advices, faxes, currency and corporate card applications
  • Fraud cover includes mortgage fraud, insurance (or endowment) policy fraud and depositors' forgery
  • Electronic crime cover for computer fraud (including communications via the internet or by telephone), telephone toll fraud and computer virus damage
  • Less onerous war and terrorism exclusion
 
Extensions Available Back To Top
  • Interest payable following a loss (up to 25% of the limit of liability)
  • Erroneous transfer of funds (sub-limit of GBP 1 million)
  • Covers legal liability for stockbroker?s inability to complete a transaction due to fraud, loss of documentation, or being deceived as to the identity of a person (sub-limit of GBP 1 million)
  • Stop payment order liability
  • Cash letter coverage and the associated expenses in reconstructing cancelled items
  • Costs of verifying, reconstituting or removing computer programs which have given rise to a payment under the policy
  • Legal fees for defence of a claim arising out of a covered loss
  • Bilateral discovery period offered as standard if the policy is not renewed
Additional Features Back To Top
  • Identity fraud protection both for individuals and the company / Extortion, kidnap & ransom wrongful detention cover (Sub-limit of GBP 2.5 million) 
    The impact of new technology and the globalisation of transactional economies have combined with the more traditional threats to an organisation’s balance sheet from fraudulent, dishonest and malicious acts to further amplify the need for proper insurance coverage.
  • In our enhanced Comprehensive Crime wording, we’ve addressed many of the various exposures faced by financial institutions within a plainlanguage, definition-based wording. The main cover is contained in four insuring clauses which, together with the free extensions contained within the wording, alleviate the need for several different contracts often required to address clients' exposures.
  • CorporateGuard Comprehensive Crime has also taken into account many of the latest enhancements to crime policies currently available, whilst maintaining a forward-looking vision of financial institutions’ exposures.
  • We have considerable experience of insuring financial institutions against fraud and will maintain our traditional underwriting flexibility - amending or manuscripting our insurance contracts to ensure they meet the individual requirements of an even wider range of clients.