AXIS INSURANCE SERVICES, LLC: The Commercial Crime Insurance Specialists
Companies across the United States lose upwards of $40 billion annually due to employee theft. From taking home office supplies to devising elaborate embezzlement schemes, the types of crime committed are wide-ranging. It’s estimated that 80% of workplace crime is carried out by an employee, with one in four workers either having committed or witnessed workplace fraud or abuse.
Additionally, cyber fraud has further complicated the potential for fraud and criminal activity for all types of businesses. Bank accounts can be compromised by experienced hackers and novices alike to tap into a company’s assets via fraudulent wire transfer schemes as well as employee theft.
Crime Insurance Designed to Respond
Axis Insurance Service, LLC provides Commercial Crime insurance to all types of businesses to protect against the risk of theft of their money and securities. A typical Crime policy is comprised of several coverage parts, providing you with options of which coverages to purchase depending on your profession, industry niche, and the exposures you face:
- Employee Theft
- Burglary/Robbery
- Forgery & Alteration
- Wire Transfer Fraud
- Counterfeit Money
- Social Engineering
- Cyber Theft
- Telephone Fraud
- ERISA/Employee Dishonesty
- Assets/Monies in Transit
- Theft of Client’s Property of Securities
It’s important to note that commercial bank accounts are not afforded the same protections under the FDIC as personal accounts. Any business with a bank account is vulnerable to wire transfer, ACH fraud, or forgery and alterations risk, making Crime insurance a must-have policy as part of a comprehensive risk management program.
