New product launched to beat internal crime

Creechurch offers policy to help mitigate employee theft and fraud.

Creechurch International Underwriters has launched a new product, PlatinumPlus Fidelity, in response to recent high profile employee fraud and embezzlement cases, and an increase in internal crimes. The product is aimed to help company’s protect their assets, and is available only through licenced insurance brokers in Canada.

“No one wants to believe that their employees will steal from them, however theft and embezzlement do happen,” said Phil Baker, executive vice president of underwriting at Creechurch. “In many cases, these thefts occur over time and can result in losses to the company that far exceeds the amount of insurance carried in a basic property package policy.”

The policy includes no policy aggregate, coverage for employee benefit plans, theft of client property, computer and funds transfer fraud, as well as a broad definition of employees, including part-time, seasonal employees, consultants, trainees and volunteers.

Baker added, “With our new PlatinumPlus Fidelity policy we can meet all the property and casualty needs of not only emerging technology companies but most types of companies and organizations that need superior asset protection.”

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Transcontinental Media G.P.