In the financial world everything revolves around trust. This trust can be betrayed by a dishonest employee or customer. Even managers, accountants or advisors are capable of committing fraud. Fraud not only damages the trust relationship, in the worst case, it jeopardizes the continuation of your enterprise. Fraud Insurance covers the financial damages resulting from fraud committed by employees or third parties to ensure the continuation of your enterprise. Fraud mostly consists of dishonesty, forgery, theft or embezzlement. Fraudsters increasingly tend to conspire with one or more employees whereby controls are circumvented, with all the entailing consequences for your financial institution.
Humans as the weak link
Good internal and external controls play an important roll in the avoidance of fraud. But these controls cannot completely stop fraudsters. This is due to the fact that the same person who is capable of committing fraudulent acts, is employed to control the procedures of your of organization. The human factor is the weakest link in the control systems. Therefore, fraud cannot always be avoided.
The fear to admit to weaknesses results in the fact that companies do not insure themselves against fraud. Remarkably, however, 1 in 4 companies in the Netherlands has to deal with fraud of such an extent that it interferes with the corporate goals. With this insurance Aon relieves you in a discreet manner of some of these sensitive issues.
Custom made coverage
The Fraud Insurance covers financial damages resulting from fraud committed by employees and third parties. A special Electronic & Computer Crime insurance exists for damages resulting from computer criminality. At Financial Institutions Benelux you will be provided with your own team of specialists, which, together with your account manager, will offer an insight in your risks. The insurance is completely custom made to the specific whishes of your enterprise.