Crime Insurance

Crime and Fidelity

Crime and
Fidelity

What is Crime and Fidelity coverage?

Hiscox C-Suite® is a market-leading, management liability and crime solution specifically designed to meet the needs of your clients. Our product protects against evolving crime perils like cyber fraud, extortion, and virtual currencies, as well as more traditional types of crime and fraud.

Our Financial Institutions Bond coverage helps firms such as brokers and dealers, financial institutions, banks, and insurance companies manage their employee theft risks.

We pride ourselves on providing:

  • Underwriting expertise - track record of delivering solutions for crime and fidelity risks
  • Broad appetite - wide range of target industries with few excluded classes
  • Fast turnaround - 75% of quotes are provided within 12 hours of submission

 

View our 2017 Hiscox Embezzlement StudyTM

Appetite

Hiscox C-Suite:

We are open to all sizes and types of businesses, non-profit, and municipality with only a few excluded classes. We are particularly competitive on companies with fewer than 1,000 employees.

Financial Institutions Bond coverage targets:

  • Brokers/dealers (up to $3B AUM)
  • Finance companies
  • Banks (up to $1B assets)
  • Insurance companies

 

Download Appetite Guide

Capacity

Crime: $10M capacity on primary or excess basis

Financial Institutions Bond: $5M capacity on primary or excess basis

Coverage & Benefits

Hiscox C-Suite

  • State-of-the-art coverage for current and emerging types of fraud.
  • Tech Fraud includes computer fraud, funds transfer fraud, cyber deception, customers’ accounts, and erroneous transfer.
    • Customers’ Accounts coverage for fraud committed as a result of the insured’s access to client, vendor or customer accounts.
    • Erroneous Transfer coverage for errors in making a transfer of funds.
    • Cyber Deception, including impersonation of an executive employee.
  • Money specifically includes virtual currencies like Bitcoin.
  • Third party coverage for theft from a customer, client, vendor, or other (even without a written contract). Even includes a client of a client.
  • Coverage for employee theft of executive’s property, forgery of executives’ accounts, and extortion.

 

  • Independent contractors included as employees. Automatic Coverage for New Subsidiaries, including coverage for losses that occurred prior to the acquisition but were discovered after.
  • Accelerated Deductible Recovery reimburses the insured for their deductible beginning with the first dollars recovered after a loss.
  • Vendor Theft provides coverage for theft by an employee of one of an insured’s vendors.
  • Coverage for employees even when the insured is aware of prior theft or dishonesty.

Financial Institutions Bond coverage is offered for:

  • Form 14 - Broker Dealers
  • Form 15 - Lenders
  • Form 24 - Banks
  • Form 25 - Insurance

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Related products

Add crime to the following products: Allied HealthcareArchitects and EngineersMiscellaneous Professional LiabilityManagement LiabilityCyber, and Technology

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Claims scenarios 

Not sure what risks our product covers? We’ve brought some scenarios to life.

Third Party Property

An employee of a property management company uses a master key to access a tenant's apartment and steals $30,000 worth of jewelry and electronics. The insured's client is the building owner, not the tenant.

Third Party Property

An employee of a property management company uses a master key to access a tenant's apartment and steals $30,000 worth of jewelry and electronics. The insured's client is the building owner, not the tenant.

Cyber Deception

A fraudster hacks into the insured's email system and sends an email from the owner's account while the owner is out of the country on business. The email convinces a bookkeeper to transfer $75,000 to an offshore account, purportedly for an acquisition.

Cyber Deception

A fraudster hacks into the insured's email system and sends an email from the owner's account while the owner is out of the country on business. The email convinces a bookkeeper to transfer $75,000 to an offshore account, purportedly for an acquisition.

Broker and Dealer

The COO of a family office company managing a $600 million estate allegedly stole over $50 million over several years. He used the money for a Gulfstream jet and gifts for his mistress and family, among other things.

Broker and Dealer

The COO of a family office company managing a $600 million estate allegedly stole over $50 million over several years. He used the money for a Gulfstream jet and gifts for his mistress and family, among other things.

Bank

A bank teller stole $93,000 from her cash drawer over two years by manipulating the drawer balance on her computer and by falsifying cash-in and cash-out tickets.

Bank

A bank teller stole $93,000 from her cash drawer over two years by manipulating the drawer balance on her computer and by falsifying cash-in and cash-out tickets.

Key contacts

Doug Karpp
SVP, Product Head – Crime & Fidelity
Anne Jarrell
VP, Claims-Executive Risks

News and insights

We have a team of experts across the industry. Read their latest advice, find useful thought leadership, and discover industry news.

Visit the Hiscox Blog