Every school, regardless of size, is a potential target for white-collar crime. Experts acknowledge this is one of the fastest-growing and most prevalent problems facing businesses today. The changing economic environment, technological advancements, and international expansion have made the threat of loss more ominous than ever.

A comprehensive Crime policy is necessary for schools concerned with protecting their school assets today and in the future. Collar criminals may not look dangerous, but they can cause financial havoc inside a company and destroy a business and its credibility. You can take preventative measures by implementing a comprehensive risk management program, including Chubb’s Crime policy.

The Crime policy can provide coverage for the following:

• Employee Theft: Losses of money, securities, and other property caused by theft or forgery by an employee.
• Premises Coverage: Losses sustained due to the destruction, disappearance, or abstraction of money and securities within or from the Insured’s premises by third parties.
• In Transit Coverage: Losses sustained due to the destruction, disappearance, or abstraction of money and securities outside the Insured’s premises by a third party while being conveyed by the insured or any authorized person.
• Forgery Coverage: Losses resulting from instruments fraudulently drawn upon the company’s accounts by a third party.
• Computer Fraud Coverage covers losses resulting from the unlawful taking or fraudulently induced transfer of money, securities, or property through the use by a third party of a computer network and facilities either owned and operated or leased and operated by an Insured.
• Funds Transfer Fraud Coverage: Losses sustained by an Insured resulting from fraudulent instructions issued to a financial institution by a third party directing them to transfer, pay, or deliver money or securities from the Insured’s bank account without the Insured’s knowledge and consent.
• Counterfeit Currency Fraud Coverage: Losses sustained by the Insured where the insured accepts in good faith and in the ordinary course of business either counterfeit currency or a postal or money order supposedly issued by the post office but not paid upon presentation.
• Credit Card Fraud Coverage: Losses sustained by an Insured resulting from the forgery or alteration of any written instruction by a third party, required in connection with any credit card issued to an Insured to any employee or partner of an Insured that is a partnership.
• Client Coverage: Losses sustained by a client resulting from theft, fraud, or dishonesty by an employee not colluding with the client’s directors or employees.
• Expense Coverage: covers investigative costs or computer violation expenses incurred in establishing the existence and amount of any direct loss over the deductible.