Liberty’s Commercial Crime policy is designed to protect companies from financial loss due to theft or fraud by employees or third parties. It offers a broad level of cover that businesses can rely on.

Examples of Insider fraud could include procurement fraud, payroll fraud, cash theft and property or investment theft to name a few.

While there are several types of external fraud that can impact a business, due to modern banking controls they are less common. Social Engineering Fraud however has established itself as a significant threat to businesses and it occurs when a fraudster adopts the identity of a supplier or employee and requests funds to be transferred to a particular account.

At a glance:

  • Limits up to US$10 million makes Liberty an attractive lead insurer for large publicly listed and private companies
  • Liberty’s Commercial Crime Insurance policy wording offers comprehensive cover
  • Our experienced underwriters have local authority to tailor the policy to suit insured’s needs which means we don’t need to wait for overseas approval
  • Our multinational footprint facilitates the placement of Commercial Crime policies throughout the world
  • Standard inclusions of Liberty’s Commercial Crime policy provide cover for:
    • Internal fraud including employee fidelity that provides broad cover for direct loss from fraudulent, dishonest, malicious, or criminal acts committed by an employee or direct loss sustained by a client from fraudulent, dishonest, malicious, or fraudulent acts committed by a company’s employee
    • Forgery or alteration cover for loss due to forged or altered instruments being drawn by, or drawn upon, the company
    • Direct loss inside and outside the premises from theft, disappearance or destruction of money or securities, and loss of other property due to robbery
    • Social Engineering Fraud, Computer Fraud, Funds Transfer Fraud, Money Orders & Counterfeit Paper Currency
    • Claims and legal expenses that occur to establish the loss
    • Interest receivable or payable
    • Public relations expenses.
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