Trust is good but protection is better

When prohibitions are ignored

You can never protect yourself 100 % against deception and crimes committed by employees and partners. This is something even the major financial institutions with their strict security precautions keep learning time and again. A fidelity insurance takes effect where damages are caused e.g. through misappropriation, theft, manipulation, breach of trust or damage to property. This applies irrespective of whether you yourself have suffered losses or a client.

Breach of trust – still a taboo

According to crime statistics, some 50 % of cases of damage that come to light are committed by the company's own employees. However, as many companies fear any damage to their corporate image, investigating and insurance authorities believe that the majority of cases of this kind are never even disclosed.

There are many explanations for this: the dire financial straits of employees, loss of traditional values, and the increased anonymisation of working processes are considered to be the main causes of this misconduct. In addition, restructuring and mergers, especially in the vulnerable banking sector, creates security gaps which enable offences to be committed in the first place. And finally, dependency on modern technology opens the door to new risks in companies.

At international level

Insurance 1 in contrast offers you the best coverage options that the international market can provide. And it is precisely those institutions that establish subsidiaries in other countries and need new coverage concepts to do so which stand to profit from this. One specific fidelity insurance developed by Insurance 1 protects companies from third-party claims arising from tortious acts committed by employees and trusted third-parties – and you can trust in that.

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