The insurance covers financial losses to a company that are caused by persons of trust, such as company employees or external employees (IT, maintenance, security or cleaning staff).

In this case, the company benefits from the insurance protection. In this way, its corporate assets are also protected against white collar crime within the company.

This includes, for instance,

damage due to:

• Deliberate breaches of duty by employees
• Intentional unlawful acts by employees (for instance fraud, theft, embezzlement, misappropriation)
• Breaches of confidentiality
• Fraud, deception or forgery of documents by third parties
  (fake president, fake identity, payment diversion)

It also includes subsequent costs, such as:

• Damage investigation costs (the costs of hiring IT for IT forensic experts, for example)
• Legal costs of enforcing claims for damages against the damaging party
• Legal costs of defending claims for damages by third parties
• Compensation costs for contractual penalties
• Business interruption costs due to fidelity losses