Crime/fidelity coverage can help protect businesses from employee theft, forgery, and fraud. Let Annex help you choose the right policy.
Business is built on effective partnerships. At the core of every successful business is a long-standing partnership with trusted employees tasked with various operations. These tasks range from product design and supply chain management to customer service and financial reporting.
But you can’t trade on trust alone. While employees are expected to be honest and corporate leadership is tasked with cultivating positive company culture, every business requires financial controls to protect its assets from fraud and abuse. Examples include things such as the sale of stolen inventory, pocketing of sales proceeds, the use of company-issued credit cards for personal expenses, issuance of duplicate checks, and other similar financial crimes.
Fidelity Insurance is designed to protect companies from financial, securities, or inventory losses as a result of crimes committed by internal actors, such as employees, and corporate leadership in positions of trust. This insurance may cover a wide range of crimes, such as embezzlement, forgery, burglary, computer fraud, wire transfer fraud, counterfeiting goods, actual robbery, and other similar acts of employee dishonesty.
Crime Coverage is tailored to support internal financial controls and mitigate risks associated with inside jobs — that is, internal actors scheming against a company’s financial reporting and control policies to steal inventory, and other assets that lead to massive losses. Aside from these internal losses, these crimes may also result in liabilities for which the company may be held responsible.
Annex is here to protect all that’s important to you and your business.