A fraud insurance covers financial losses due to deliberate fraud, such as embezzlement by employees or phishing where payments are intercepted.
Antilope De Bie Printing
Oplossingen
Fraud insurance
Fraud is more common than many business owners realise. An employee embezzles company funds. A supplier manipulates invoices. An external party intercepts payments through phishing. The financial impact can be significant, in addition to reputational damage and a loss of internal trust.
Fraud insurance protects your business against financial losses resulting from both internal and external fraud. Van Dessel Insurance Brokers helps you identify your vulnerabilities and develop a solution tailored to your organisation and risk profile.
What is fraud insurance?
Fraud insurance protects your business against financial losses resulting from intentional fraudulent acts.
This may include:
- Internal fraud, such as deception, embezzlement or theft committed by employees
- Misappropriation of money or assets
- Fraudulent invoices or payment manipulation
- External fraud, including phishing and social engineering attacks
Where fraud is proven, the insurer compensates the financial loss in accordance with the policy terms and conditions, helping to prevent a single incident from having a major impact on your business.
Fraud insurance is also commonly referred to as crime insurance and forms an important part of a broader corporate risk management strategy.
What are the benefits?
Fraud insurance not only protects your financial assets, but also helps safeguard the stability of your business.
Covers financial losses resulting from internal fraud or embezzlement.
Covers financial losses caused by external fraud, including phishing and payment manipulation.
Covers investigation costs incurred to establish and prove fraud.
Who is this insurance for?
Fraud insurance is particularly relevant for businesses that:
- Employ multiple staff members or have complex internal processes
- Process financial transactions through online banking
- Make international payments or work with overseas suppliers
- Hold valuable stock or assets
- Have responsibilities and payment approvals divided across different roles
The stronger your internal controls and the more people involved in authorising payments, the lower the risk of internal fraud. For this reason, insurers place great importance on the four-eyes principle, where payments require approval from at least two authorised individuals.
Small and medium-sized enterprises are equally vulnerable. A single fraud incident can be enough to have a significant impact on your annual profits.
What is covered and what is not?
What is covered?
- Embezzlement of money or assets by employees
- Internal fraud through abuse of position
- External fraud, including phishing and social engineering
- Forgery of documents or payment instructions
- Forensic investigation costs (where covered under the policy)
What is not covered?
- Losses resulting from ordinary negligence or human error
- Unproven or non-demonstrable fraud
- Fraud committed by directors or company officers (unless specifically covered)
- Reputational damage without a direct financial loss
- Indirect losses suffered by customers or liability towards third parties
How much does this insurance cost?
The premium for fraud insurance is determined by several factors, including:
- Your annual turnover
- The number of employees
- The nature of your business activities
- Your internal control procedures
- Your claims history
Insurers assess factors such as segregation of duties, approval procedures and internal controls. A strong internal governance framework can result in more favourable policy terms and premiums.
We help you assess your fraud risks and compare insurance solutions from different insurers to find the cover that best suits your business.
Stories from our customers
Groep Steylaerts
Patrick Steylaerts: “Wij hebben het volste vertrouwen in onze verzekeringspartner Van Dessel.”
Germo bvba
Bram Gers: "Vooral het maatwerk is de reden waarom ik met Van Dessel in zee ben gegaan."
Van Wellen Group
Tom Bolsens: "We waren verrast dat er uit zo'n kleine hoek dreiging kon komen."
Our promise to you
Personal & involved
a tailor-made partner
We start from your specific situation and take the time to thoroughly understand your risks, needs, and objectives. This way, you receive advice and guidance tailored to your business and everyday practice.
Expertise & experience
already 80 years in insurance
Thanks to our years of experience, we analyze your risks and insurance needs with a broad perspective. We provide a well-thought-out approach, clear solutions, and the right protection for your business.
Customization & innovation
beyond standard insurance
No standard formulas, but solutions tailored to your activities and challenges. From analysis and implementation to support in case of claims: we provide an approach that works in practice.
Would you like to receive a quote?
We analyze your activities, contractual obligations, and risks. You will receive a clear, tailor-made proposal for your business.
Request a free quote without obligation or contact us for personal advice.
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