Addressing the Crime Exposures of Nonprofits
Smaller operations, including nonprofits, can be particularly vulnerable to crime exposures that threaten an organization’s assets and its ability to serve its community. These exposures include everything from embezzlement to fraudulent electronic funds transfer, social engineering fraud (phishing), forgery, robbery, safe burglary, or credit card forgery. Moreover, criminals and unethical employees may take advantage of potential weaknesses in an organization’s financial controls to misappropriate funds and property that could potentially go undetected for years.
The “Bite” in Our Coverage Solutions
BMT Insurance Advisors provides comprehensive Crime insurance options to respond to a variety of exposures. We’ll help you protect you from the potentially devastating costs of employee and third-party theft with the following key coverages:
- Employee and Volunteer Dishonesty/Bonding – Protects the employer from financial loss due to the fraudulent activities of an employee, group of employees, or volunteer. The loss can be the result of the employee’s or volunteer’s theft of money, securities, or other property of the employer.
- Money and Securities– Provides coverage for money and securities used in an organization if they are stolen, lost or destroyed. Extends coverage to a client with which the nonprofit is under written contract to perform services.
- ERISA Bonding – Provides protection in the event of theft of employee retirement funds under ERISA. ERISA requires a bond equal to 10% of the assets up to a maximum limit of $500,000.