Crime
MSP employee theft + cyber crime continue to be a problem. In fact, they could end up putting you out of business. Some insuring agreements you want to pay attention to and where we see claims include:
Employee Theft
Protects you against dishonest acts committed by your employees, including theft of money or property.
Cyber Deception
This occurs when a criminal enterprise disguises themselves as an employee, client or vendor and tricks someone at your organization into transferring funds to an account under their control. This could come from a phishing attack or social engineering email, text or instant message.
Customers' Accounts
Fraud committed as a result of the insured's access to client, vendor, or customer accounts.
Computer and Funds Transfer Fraud
Cyber-attacks are now more sophisticated than ever before. This coverage will reimburse your company for the loss of money due to the use of a computer to fraudulently transfer funds out of your possession.
Vendor Theft
Theft committed by an identified employee of your vendor.
Telephone Toll Fraud
Involves the hijacking of a phone system over the Internet to dial out to premium numbers in distant countries at several dollars a minute.
Erroneous Funds Transfer
The accidental and erroneous transfer of money or securities to an unauthorized account resulting directly from the inputting of an inaccurate account number, routing number, or other identifier for the account to which the money or securities are intended and authorized to be transferred.
Licensing Violation
Fines and penalties for which you are legally liable as a direct result of the unauthorized reproduction of computer software, sound recordings, or visual media by an employee in violation of a licensing agreement with a third-party vendor, provided the unauthorized reproduction is done.
Forgery and Alteration of Checks, Debit or Credit Cards
Protects against third-party forgery or alteration of written checks, bank drafts, or similar instruments made or drawn by you, or drawn on your account(s).
Theft, disappearance and destruction inside and outside the premises includes theft from bank night depository or ATM money
Protects you against the theft, disappearance, or destruction of your money or securities inside your place of business. You and your employees are also covered offsite.
Money orders and counterfeit currency
Covers loss due to acceptance of a money order that was issued (or is purported to have been issued) by a post office or express company and loss due to acceptance of counterfeit paper currency.
Money orders and counterfeit currency
Covers loss due to acceptance of a money order that was issued (or is purported to have been issued) by a post office or express company and loss due to acceptance of counterfeit paper currency.
Employee Dishonesty
Covers losses due to dishonest or fraudulent acts committed by employees.
Forgery or Alteration
Protects against losses caused by forgery or alteration of checks, drafts, promissory notes, and similar instruments.