Financial Loss Insurance offers substantial protection against unforeseen financial losses that may arise from incidents of fraud, theft, embezzlement, robbery or other malicious acts, inside or outside the company. It covers losses of cash, securities, cheques and electronic transactions, as well as losses due to employee errors, forgery or fraudulent actions of third parties.
The insurance program is designed based on the activity, internal processes and risk profile of the company, helping to protect its financial flows and maintain its financial stability.
Through a fast assessment process and discretionary incident management, Financial Loss Insurance actively supports corporate continuity and limits the impact of unforeseen incidents on business operations. Maxima Insurance provides independent comparison of insurance solutions, expert advice and full support in the claims process, so that the business can operate with security, predictability and operational confidence.
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Frequently Asked Questions
Find answers to key questions about the plan and get information before you choose the coverage that’s right for you.
It covers both cash/ticket theft and embezzlement, falsification of documents, fraudulent manipulation of accounting records and financial fraud by employees against the company.
Yes, coverage extends to employee collusion with third parties (vendors, customers). This combination is one of the most common forms of corporate fraud worldwide.
There is usually a discovery period (6-12 months after expiry) for claims discovered afterwards. Past fraud that was not discovered may be covered if it falls within the discovery period.
The classic fidelity bond does not always cover them. You need special ‘computer fraud’ or ‘funds transfer fraud’ coverage. With the increase in BEC (Business Email Compromise) attacks, this coverage has become essential