Specialist insurer Hiscox has announced enhancements to its crime and fidelity platform with the addition of financial institution bond coverage.
The new coverage protects financial services organizations—including stockbrokers, mortgage and lending firms, banks and insurance companies—against incidents of employee theft, as well as a wide range of fraud and other theft risks, such as counterfeit money schemes, check forgery and computer systems fraud.
“No business is immune to crime. Employee theft and fraud are very real threats with potentially devastating implications,” said Doug Karpp, national underwriting leader for crime and fidelity at Hiscox. “The expansion of our crime insurance offerings to financial institutions demonstrates our continued commitment to understanding the needs of our customers and the market, as well as providing brokers with a holistic approach to managing and mitigating executive risk.”