Chartis, a property-casualty and general insurance organization, has formed a new dedicated Crime Insurance unit within its Growth Enterprises Division.
According to Chartis, the new Crime unit will be responsible for delivering quotes on exposures such as employee dishonesty, forgery or alteration, theft of money and securities, computer fraud, and funds transfer fraud, for businesses and organizations with up to $25m in annual sales.
The underwriting team of the Crime Insurance unit will work alongside all underwriting units of Growth Enterprises, to ensure customers have a complete insurance solution.
Growth Enterprises Division offers insurance solutions for growing businesses and organizations in the areas of management liability, professional liability, fidelity/crime, excess casualty, environmental, and accident and health, and also maintains construction, financial institutions and programs insurance practices.
Growth Enterprises president Brian Inselberg said that the impact of employee theft can be especially devastating to a growing business. Companies with under 100 employees typically suffer the greatest percentage of fraud, with losses in excess of $150,000.
"We created this new unit specifically to address these market factors. By dedicating underwriting and service teams to this area, we can help mitigate these exposures for growing businesses while delivering exceptional customer service," Inselberg said.