Aviva Broker: Commercial Crime

Introducing Commercial Crime

Any business can be a victim of fraud, no matter how big or which industry they operate in. Most businesses believe they have a robust internal control framework in place and employ trustworthy staff. Because of this, it may be difficult to recognise their vulnerabilities and admit the real risk that these controls can be manipulated by a motivated fraudster - either an employee or third party. Our Crime policy can help protect your client's business for financial loss suffered due to fraud or dishonesty.

Why do clients need Commercial Crime cover?

It's an unfortunate fact that any business can become a victim of commercial crime – if there’s money in the business or property, it’s always possible that someone will try to take advantage of this. Crime can be committed by employees, contractors or outside third parties and can include:

Theft of money, securities or property
Forgery relating to money, securities or property
Telecommunications fraud
Identity fraud
Electronic fraud transfers
Social engineering fraud

Why choose Aviva's Commercial Crime cover?

What's covered as standard?

Social engineering - the use of deception to manipulate people to gain access to confidential information, which is then used to access systems
Mandate fraud - where fraudsters pretend to be a real supplier and ask businesses to update their bank account information - if a payment is then made, it goes to the "new" account, which ends up in the criminal's pocket
Expenses - cover for investigation costs, legal defence costs, mitigation costs, reinstatement of data costs, reputational recovery costs and property damage costs
Recruitment costs - external costs to recruit replacement members of staff where employees have been dismissed as a direct result of their having committed an internal crime covered by the policy

Optional covers

Care, custody and control and client loss - cover for third-party property under your client's care
Outsource service provider crime - covering theft, fraud or dishonesty by an outsource service provider
Impairment of money and securities - any unexplained disappearance, damage or destruction of these assets
Corporate identity fraud - cover for fees, costs and expenses incurred to reinstate public records following fraudulent modification, alteration or theft of your client's identity by an employee or third party
Malicious damage to data - cover for the cost of reinstating data following malicious acts committed by an employee or a third party to damage, destroy, erase or delete data or insert unauthorised and corrupting or harmful software code
Electronic transfer of money made in error - cover for loss of funds which have been transferred by an employee or outsource service provider into the wrong account, and where every reasonable course of action to secure recovery of such funds has been exhausted
Public utilities fraud - cover for charges for which your clients are legally liable following direct theft or diversion of gas, water or electricity from your premises by a third party

Did you know?

Policyholders can also access a range of legal help and advice through our Aviva Business Law website, powered by Farillio. Your clients can get access to business and legal guides, along with help for everything from branding to tax planning.

Get a quote

To get a quote, please contact your usual underwriter.

Get in touch with your underwriting team

Claims

Our dedicated claims service is there whenever your client needs us – they can call our 24/7 claims line or email us anytime.

Your client will be allocated a claims handler, who will support them throughout the entire process, but they’ll also have access to our panel of solicitors working in litigation and claims investigation.

Our defence excellence team will be on hand to help protect your clients against fraudulent claims and also give advice on best practice procedures and legislation that can help companies enhance their risk management strategies.

Explore our claims service