The growth of the digital economy sometimes seems to be a mixed blessing. Many sources have reported that cyber crime is increasing and business fraud is a growing problem. These incidents can damage corporate reputation as well as leading to loss of cash or other assets. Like trade related events, fraud can be difficult to predict and it is possible for any business to experience these crimes.
Data protection legislation has made the potential risks even greater as failure to protect customer data can lead to heavy fines. The crimes can be committed by parties that are external or internal, part of the workforce employed by the business, using inside knowledge.
We have designed policies that protect your business when you suffer the impact of fraud or cybercrime. Each policy is tailored for a specific business so that you choose what cover you need and wish to pay for. In the event of a claim, you will indemnified so that your direct financial losses are covered, avoiding cash flow crises and defending profitability.
We usually cover some indirect costs, for example legal proceedings, and costs related to reputation damage. As with all Euler Hermes claims, dedicated experts and specialists help you to manage the crisis.