Risk Placement Services Inc. is using its online platform to launch a commercial criminal insurance product covering losses due to fraud committed by internal and external parties, said Rolling Meadows, Illinois-based wholesale broker and chief executive officer in a statement on Tuesday. .
The policy offers standard law enforcement including theft of employees; ERISA fraud; forgery or alteration; inside / outside the premises; computer fraud; money orders and counterfeit currency; money transfer scams; customer property / third party; and limited costs cost the statement.
The policy also provides full-scale social engineering coverage.
Maximum liability limits total $ 5 million, according to an email from a spokesperson.
Police functions include theft coverage and extortion coverage, including cyber threats; a loss aggregation language used for storage; a discovery trigger linked to knowledge of the CEO, CFO and Advocate General; and coverage of costs and costs for compensation of property damaged by robbery.
Coverage also covers pension plans established, maintained or controlled by the insured company.
The policy is available in all 50 states and can be cited, bound and issued online by answering four subscription questions. Catalog