Commercial Crime Insurance

What is it?

The risks of crime have become increasingly global. Also developments in technology ensure businesses are now more than ever, faced with not only an increased exposure to commercial crime but a huge variety of different ways coming through from many different ways. Thieves and fraudsters can include internal employees, external sources, or a combination of the two working together for their own personal gain.

Why do you need it?

During periods of economic uncertainty it appears people become more desperate and this appears to lead to increased criminal activity. Therefore the discovery rates by Businesses and their Managers are escalating. Mergers or acquisitions can heighten exposure to crime. Also when Businesses implement cost saving measures such as salary freezes and redundancies, disgruntled employees to look for alternative ways to supplement or increase their income. As the worldwide use of computers has grown, so has computer-related criminal activity.Cyber thieves attempt to assume identities, commit credit card fraud, alter websites and maliciously destroy online systems. Small, portable high-tech products that can quickly skim cards or film password entries can easily be bought on the black market. As a result we can all be an easy target for internal and external sources because the earning potential is huge.

As organisations operate globally, cross-border criminals, fraudsters and professional gangs have the opportunity to operate on an international scale. Detecting a crime on this scale is more complex. Fraud or crime poses a greater threat in emerging countries. As a company expands its operations there can be a lack of understanding in terms of the language and culture of the new territory .

Get your free Fraud Health check up by clicking here

What does it cover?

Commercial Crime coverage is designed to meet the needs of corporate organisations in challenging times. It provides broad coverage to ensure protection and peace of mind against a wide range of criminal activity.

You should look for a broad coverage that offers protection for your business by providing Worldwide coverage, an insurer with a large capacity, broad definitions of external parties and third parties, a broad definition of employee, Insured definition includes employee superannuation funds and cover for loss sustained at any time.

The types of extensions of coverage you should seek include Care Custody and control cover, Client Liability, Credit Card Fraud, Data Reconstitution Costs, Erroneous Funds Transfer, Extended Discovery Period up to 12 months, Extortion, Interest, Investigation Costs and Automatic cover for new subsidiaries and run off cover for ceased subsidiaries.

 Who can help?

An insurance broker's role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge. Call a good one. Call CPR. We can be contacted on 07 3123 1137 or 0439 530910. Fax 07 3102 9294.  Email enquiries@professionalrisk.com.au.

Latest News

CPR joins Ausure

We would like to announce to all our Clients, Prospective Clients, Suppliers and Insurers, that Cooper Professional Risks Pty Ltd trading as CPR Insurance Services, will be leaving National Adviser Services Pty Ltd (NAS) and joining Ausure Pty Ltd as a Corporate Authorised Representative from 5 March 2018.

Fundamentally, there is no difference to you, except our Invoices will look a little different, and the Banking details will be in a different name and account number. Everything else at CPR stays the same.

There are a number of reasons we have made this decision, but the primary reason is for what we believe is best for our clients.

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Special offer to CPR Insurance clients

Employsure are providing a FREE Business Health Check to all our clients and gives you the opportunity to receive an analysis of the health and safety requirements in your workplace. Also. Employsure  will review your employment agreements as well as your wage rates helping you to avoid workplace claims.

Ordinarily this would cost you at least $1,250 but because you are a CPR Insurance client, it is free!

It involves the following review for you.

SAFECHECK

A specialist Work Health and Safety Consultant will visit your workplace and carry out:

A review of your business’ current work health and safety policies, procedures and systems to identify areas of concern or non-compliance

Following the review, you will receive a report summarising the findings and the health and safety

Status of your workplace

WAGE CHECK

A Wages Adviser will review your rates of pay and produce a Wage Check report.

The review will be conducted against the industrial instrument applicable

A report will be supplied advising if the wages are compliant and what steps to take to achieve compliance

CONTRACT REVIEW

A Document Consultant will review an employment agreement and provide recommendations.

The review will highlight compliance issues with the Fair Work Act 2009 as well as best practice

The report will make recommendations to achieve compliance and provide protection to your business.

This will remove any areas of potential dispute and risk

So what do you have to lose? Contact us on 07 3123 1137 and arrange 

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