Commercial Crime insurance can help reduce your organization’s vulnerability to direct losses stemming from Employee Dishonesty, Forgery or Alteration, Theft of Money & Securities, Burglary or Robbery, and Computer Fraud. For example, what happens if an employee, member, or volunteer steals money from your organization? You might think this type of crime-related loss is covered by commercial property insurance, but typically, this type of theft loss is best covered by Commercial Crime insurance policies. So, it’s vital to ensure that your fraternal organization is protected with Commercial Crime coverage with adequate limits.
The loss of money, securities, and other assets resulting from acts like employee theft, theft on premises or in-transit, forgery, fraudulent transfer of funds and computer systems fraud is ever prevalent.
This coverage provides insurance protection on behalf of the insureds against loss of money, securities or other property, due to the fraudulent or dishonest acts of employees or volunteers.
Dishonest acts may be committed by any person while acting alone or in collusion with others. Dishonest acts must exhibit the intent to cause the insureds loss or to obtain financial benefit for themselves or others.
This basic information has been prepared as information only. The actual insurance policies are subject to definitions, duties, exclusions, limitations, and various other terms and conditions. This information does not amend, extend, or alter the coverage afforded by the actual insurance policies.
Follow these tips to safeguard your chapter’s or house corporation’s funds:
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