Employee theft comes in many forms.
Smaller infractions such as padding an expense account, forging a receipt, taking or redirecting product, cash, or supplies may only occur a few times or even just once. But systemic theft, such as falsifying vendors or customers, fake, dead or retired employees drawing a salary, or large-scale theft of materials or cash, can go happen across weeks, months and years.
Fidelity and crime coverage from Travelers covers employers for direct loss, as well as identity fraud reimbursement and reasonable claim expenses. To help explain the coverage to your clients, Travelers compiled a two-minute video you can share with them: “Fidelity and Crime -Demystify Management Liability."
Via Big “I" Markets, you can obtain coverage on a standalone basis or as part of Wrap+ for Executive Liability for Private Companies. Pick and choose the coverages your client needs and leave off what they don't. In the future, you can add or drop coverages as needed.
As part of the coverage, insureds receive access to Risk Management Plus+ Online®, a one-stop resource that provides a comprehensive set of tools to help protect their organization from costly litigation.
To access Wrap+, log in to Big "I" Markets and select Wrap+ products from the commercial product listing. Note: community homeowners associations and health care organizations are not currently available through Big "I" Markets.