New York, NY

“This enhanced coverage protects insureds more fully by offering coverage for losses associated with certain transfers of tangible property because of fraud,” stated Brian Inselberg, senior vice president, Financial Lines, “While coverage for loss of ‘funds’ may be available in the marketplace, businesses are still exposed to the risk of loss for the transfer of tangible property as a result of a fraudulent instruction,” Brian further states, “Given the rapid speed with which companies often move their inventory, component parts, and, other tangible property, the risk of acting on a fraudulent instruction is increasing.”

This expanded coverage and the recent introduction of the KnowBe4 risk management tools demonstrate Starr Insurance Companies’ commitment to addressing the evolving crime and fidelity exposures of companies.