BE PREPARED WITH
OUR CRIME INSURANCE POLICY

Eighty percent (80%) of workplace crime occurs at the hands of employees – trusted individuals who commit crimes and cost businesses and organizations hundreds of thousands of dollars. In fact, organizations lose an estimated 7% of their revenues each year through fraud, according to the Association of Certified Fraud Examiners, and a fraud incident can go on for one or two years before being noticed.

Community associations are not immune from these types of losses and, without the proper insurance coverage, are unprepared to deal with the financial setback that results from theft and other related crimes. Kevin Davis Insurance Services (KDIS) provides important Crime insurance protection to community association boards and their property managers to guard against risks involving Cyber-crime, embezzlement, check forgery, and theft.

Why Buy Crime Insurance?

While some community associations may believe their internal controls are strong enough to prevent any type of theft, they can still fall victim to check tampering, loss from fictitious accounts or suppliers, embezzlement, or counterfeiting, among other losses. For example, there was a case in which an association’s treasurer with check-signing responsibility and access to the organization’s payroll checking account set up a fictitious company that allegedly provided services to the association. The funds stolen were not discovered until after he was no longer the association treasurer. In another case, the treasurer of an association leased a personal car and other items for herself by opening a commercial credit card and having the purchases billed to the association. It was only after a couple of years that another association member realized what was going on.

In addition, KDIS is seeing an increasing emerging risk involving breaches in electronic funds and wire transfers in the community association arena.

What Does Crime Insurance Cover?

Crime insurance protects an association in the event of loss of money, securities and other property. Other property can include anything of value – from artwork in the common area to office equipment that the association owns. Coverage will respond to:

Employee Dishonesty
Forgery or Alteration
Inside the Premises – Theft of Money and Securities
Inside the Premises – Robbery or Safe Burglary of Other Property
Computer Fraud or Restoration
Social Engineering
Funds Transfer Fraud

Insure Your Clients with Us, Download Our Crime Applications

Visit our applications page here.

Tailored Solutions to Fit Your Client’s Risks

Over 40,000 community associations have trusted us with their coverage needs. Contact the specialists at KDIS to provide you with a proposal for your client’s insurance program.

Contact the Insurance Experts for Community Associations

BE PREPARED WITH OUR CRIME INSURANCE POLICY

Why Buy Crime Insurance?

What Does Crime Insurance Cover?

Insure Your Clients with Us, Download Our Crime Applications

Tailored Solutions to Fit Your Client’s Risks

BE PREPARED WITH
OUR CRIME INSURANCE POLICY