Commercial Crime Insurance

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There's a fine line between business as usual and business disrupted. Today the risks to your company can come from anywhere -- online, offline, home, abroad, from the outside, and perhaps most disturbing, from the inside -- the people working for you.

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As an employer, are you aware of how exposed you are to fraud, theft and more? Employee fraud is estimated to cost businesses 5% of revenues each year. The average time before fraud can be discovered, 18 months, usually by accident or a tip-off. And at least one in five cases cost companies at least 675,000 pounds.

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Asterisk: A.C.F.E. 2014 Report to the Nations on Occupational Fraud and Abuse.

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For example, a financial manager at a retail company created false vendor invoices and altered cheques to misappropriate 800,000 pounds over 10 years. And fraud can also come from outside a business. A payroll clerk noticed three unauthorised electronic fund transfers from the company's bank account that totalled over 475,000 pounds. Seemed someone had gained access using a financial manager's username and password.

Whatever the size of your business, without the right protection, you risk losing a lot more than money -- people, court cases, clients, trust, business assets, possibly the whole company. With risks like these, you need an insurance company who can help protect and prepare you for anything. That's why crime coverage isn't a maybe, but a must-have. Ask your broker how Travelers UK can help ensure your business is protected.

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Logo and text: TRAVELERS. For more information on Crime coverage, please visit travelers.co.uk/managementliability.

The information provided in this video is intended for use as a guideline and is not intended as, nor does it constitute, legal or professional advice. Travelers does not warrant that adherence to, or compliance with, any recommendations, best practices, checklists, or guidelines will result in a particular outcome. Travelers does not warrant that the information in this video constitutes a complete and finite list of each and every item or procedure related to the topics or issues referenced herein. Furthermore, laws, regulations, standards or codes may change from time to time and you should always refer to the most current requirements and take specific advice when dealing with specific situations. In no event will The Travelers Companies, Inc. or any of its subsidiaries or affiliates be liable in tort or in contract to anyone who has access to or uses this information. Copyright 2016 Travelers Management Limited. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the US and other countries.