Business Fraud Insurance | Fidelity | Allianz Trade in the UK

What is business fraud insurance?

Business fraud insurance is a key component of today’s corporate risk management and supports a proactive approach to mitigating the ever-present risk and often significant business impact of internal and external fraud.

It supports an organisation’s risk prevention, provides support once fraud is detected, and, crucially, it covers financial losses.

Internal and external protection

Business fraud insurance protects against fraud committed by what are known as ‘trusted persons’. From permanent and temporary staff, through to external contractors and consultants, you’re covered for theft, fraud, embezzlement or damage to property.

It also covers businesses from certain external threats perpetrated by scammers and organised criminals. This includes robbery, theft, fraud and main variants of the increasing threat of social engineering.

Business fraud insurance can also sometimes be referred to as commercial crime insurance or fidelity insurance.

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The growing risk of fraud

17%

rise in fraud in the UK, partly driven by the cost-of-living crisis ¹

51%

of global organisations admit experiencing fraud in the last 2 years ²

How business fraud insurance works

Prevention is always better than cure, which is why business fraud insurance equips your organisation with the know-how to prevent and identify fraudulent acts.

And in the event of a claim you’re given access to crisis management support to deal with an incident, as well as being indemnified for direct financial losses and other costs incurred.

Prevention

Equip your organisation with the know-how to prevent and identify fraudulent acts.

Crisis support

Access guidance from specialists to manage the business impact of fraud.

Indemnification

You’re covered for direct financial losses and other costs incurred.

Who is Business Fraud Insurance for?

Allianz Trade UK's Business Fraud Insurance is designed for businesses with annual revenues exceeding £15 million. This product is tailored to meet the needs of both medium-sized, corporates and multinationals, providing comprehensive protection against fraud for various company sizes and structures.

Examples of losses covered

Direct financial losses

For example, an emptied bank account, redirected money, an emptied safe deposit box, a stolen piece of equipment or simply embezzling company money.

Other costs incurred

For example, legal costs of lawsuits, the cost of mitigating reputational damage and costs for “repair and retrieval”.

Why Allianz Trade for business fraud insurance?

Allianz Trade is European leader in Business Fraud insurance. Designed for businesses with annual revenues exceeding £15 million, we give our business customers confidence in tomorrow.