A federal appeals court ruled that RealPage’s commercial-crime insurance policy did not cover a $5 million phishing loss because the property-management service provider never “held” any of the stolen funds. The 5th U.S. Circuit Court of Appeals upheld a victory for AIG’s National Union Fire Insurance Company of Pittsburgh, which insured RealPage against theft of… Continue reading Phishing Victim Can’t Claim $5 Million Loss on Crime Policy for Money It Never ‘Held’
Tag: Commercial crime insurance
Chubb Introduces Next Generation of Crime Insurance
Chubb has introduced its next generation of crime insurance offering, The Chubb PrimarySM Commercial Crime Insurance, to help companies of all sizes and industries protect themselves from criminal activity both inside and outside their organizations. The Association of Certified Examiners in its 2020 Report to the Nations finds that occupational fraud caused organizations to lose… Continue reading Chubb Introduces Next Generation of Crime Insurance
Risk Placement Services Launches New, Online Commercial Crime Insurance Product
E&S wholesale broker and MGA Risk Placement Services announced today the launch of a new, online commercial crime insurance product to cover losses resulting from fraud committed by internal and external parties. Available to quote-bind-issue in two minutes through RPS’ online platform, the commercial crime policy offers standard blanket crime coverages including: employee theft; ERISA;… Continue reading Risk Placement Services Launches New, Online Commercial Crime Insurance Product