Protecting your business from employee theft and fraud

 

Media reports of crime against businesses often give the impression that it always comes from outside and far way. Russian hackers, African tricksters, criminal gangs all feature in the press.

We hear less often about the crimes that take place on our own doorstep or even at the next desk along in the office. It can be hard to swallow the idea that a crime could be committed by the people we have recruited carefully and rewarded as employees. Theft and business fraud cost the UK economy more than £73 billion in 2012, according to the National Fraud Agency

Unfortunately, the digital age has presented more opportunities than ever for these crimes. Fraud prevention can be challenging. For example, fraudsters may use the email address of a senior manager or director to instruct a member of the financial team to make payments to a new account set up illegally. Your employees may not know they are being deceived. Insuring your business against the actions of the people you employ does not suggest they are all dishonest. It is a matter of common sense when it is possible for them to be tricked in this way. 

It is important for you to take measures for fraud prevention and detection, of course. With our cover for employee fraud, you will have even greater peace of mind that one more risk for your growing business has been assessed and managed. The policy we have prepared does more than most business crime or fidelity policies because it includes cyber-attack risks. Our skilled advisers and underwriters are ready to make sure your cover meets the needs of your business.

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Trade credit insurance is designed to protect you from non-payment of invoices or customers who pay late. When you take out a policy with us you will also have access to the global expertise in our debt collection service. Keeping you in business and supporting your customer relationships is important to us and we are ready to respond at all times to your requests and concerns. Our claims team is responsible for claims on all our policies including employee fraud cover and are ready to work with you whenever you need them. We promise to keep you informed as we investigate and make decisions. We will pay all valid claims as soon as possible. As a customer, you can help us by collecting all the relevant information we request about your claim and sending it to us promptly. Our goal is your complete satisfaction.