Now you can offer your customers expanded coverage with ISO's new crime and fidelity insurance program. The program includes enhancements that protect businesses and government entities against:
- employee theft
- other workplace crimes
This program makes it easier for insurers, insurance agents, and their customers to use and understand coverages, exclusions, and conditions.
New coverage enhancements to offer your customers
Enhancements include coverage for losses caused by employee theft of:
- other property of the insured
- clients' property on the clients' premises
Also available, for the first time in the ISO program, is coverage for additional perils, including:
- forgery or alteration of negotiable instruments
- loss through transferring money and securities by fraudulent telephone or fax instructions
- extortion threats targeting the insured's property
More than $400 billion lost to employee fraud
According to a study by the U.S. Department of Commerce, businesses lose more than $400 billion to employee fraud and other workplace crimes — ranging from theft of money and property to counterfeit documents and securities, computer fraud, and fraudulent financial transactions.
Crimes by employees in the U.S. workplace don't always grab headlines, but they are a major cause of loss for American businesses of all sizes. ISO's new employee theft coverage gives insurers and agents a powerful product to sell to businesses that need protection from the dishonest acts of their employees.
Two new "master" coverage forms
The new coverages are part of two ISO master coverage forms used when providing coverage to commercial and government entities through a commercial package policy. In addition to the new coverage forms, ISO has developed self-contained policy forms for insurers that provide crime and fidelity coverages outside of the commercial package program.
And now, you can offer your clients a new Kidnap/Ransom and Extortion Policy.
For more information . . .
. . .on ISO's crime and fidelity insurance program — or to get in touch with a sales representative — contact ISO. You can also call us at 1-800-888-4476.