Chartis has introduced CrimeGuard Choice, a fidelity and crime insurance solution developed by its Executive Liability Division. CrimeGuard Choice responds to the wide-ranging losses a company can suffer due to dishonest acts committed by employees, independent contractors, consultants and others. The policy also addresses the heightened threat of identity theft in today’s society. Key features of CrimeGuard Choice include:
- A modular format allowing a policyholder to choose only those coverages desired, such as:
- Coverage for a client’s loss of assets;
- Personal identity event coverage to support employees who are victims of identity theft on or off the job; and
- Corporate Identity Protection (CIP) to mitigate the substantial expenses a company can face when data in its care is breached.
- A broad definition of employee that includes full-time, part-time and temporary employees, employees on military leave, independent contractors, students, and volunteers;
- Coverage for losses discovered during the policy period, even if the crime that caused the loss was perpetrated before the policy was in force; and
- A Fidelity Research and Investigative Settlement Clause (FRISC), which is a unique provision that allows the insured to select an investigative specialist or forensic accountant to determine the facts of the case and quantify the loss.
“CrimeGuard Choice is fidelity and crime insurance that responds to the realities of today’s workplace. Its broad coverage extends to losses arising from the many types of people that businesses commonly rely on – from full-time and part-time workers, to independent contractors and consultants – and encompasses the newest exposures, such as identity theft,” said Michael Smith, President of Executive Liability.