What is covered?
The insurance covers direct economic losses caused by your own employees or other persons in a position of trust resulting from
- theft
- misappropriation of company funds
- fraud (including computer fraud)
- embezzlement
- other wilfully committed unlawful acts which give rise to a liability for compensation (e.g. damage to property or sabotage)
In order to protect your company against new modern forms of white-collar crime, cover includes
- divulging of trade secrets
- losses caused as a result of misrepresentation by external third parties
- losses wilfully caused to third parties by your employees
- losses caused by hackers as a result of direct and unlawful interference in your electronic data processing systems
Subject to the sum insured, the following will also be reimbursed:
- external costs incurred for legal action and verification of the loss up to 20% of the insured loss
- any additional internal costs incurred for legal action and verification of the loss up to 2% of the insured losslosses caused as a result of misrepresentation by external third parties
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Euler Hermes Group
