Creechurch launches fidelity insurance product

Creechurch International Underwriters Ltd. has launched a stand alone fidelity insurance policy to address the need for protection of corporate assets as employers face a marked increase in internal crimes.
Policy highlights include:
•broadest definition of employees, including part-time, seasonal employees, consultants, trainees and volunteers;
•no policy aggregate;
•coverage for employee benefit plans;
•theft of client property; and
•computer and funds transfer fraud.
“No one wants to believe that their employees will steal from them, however theft and embezzlement do happen,” said Phil Baker, Creechurch’s executive vice president of underwriting.
“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.”