Video: Fidelity/Crime Cover in an Outsourcing and Work-From-Home World

Woman at Computer w Dog

I had the chance recently to do a WillisTV report with Steve Leggett, our fidelity/crime insurance leader in North America. He spoke about some of the risks in the evolving work places that might not be covered by the standard fidelity bond or crime policy—potential gaps in coverage a lot of risk managers may not be aware of.


One red flag to look for is outsourcing to small companies.  When companies outsource tasks that involve handling money—payroll, mailroom, pension advisers come to mind—they usually insist that the vendor has crime coverage. To be safe, they make sure the vendor’s policy has their company and their property named on it.

A company’s crime coverage, however, does not apply to its owners or sole proprietor. So if your assets are handled by a small company, you might want to look into agents coverage.


Another red flag is employees working from home. The wording in many crime policies reflects the fact that today workers logging in from their dens are full employees and covered as if they were coming in to the office. Many, but not all. You need to make sure the language in your policy covers everyone you need to cover.

Crime may not pay, but people still try it. Crime coverage will pay, but you need to make sure you’ve got the right protection in place.

The video was featured in Willis’ monthly Insights newsletter.  Here’s a link to the WillisTV story.


About Colleen McCarthy

Colleen is Director of Communications for Willis North America, where she has worked since 2010. Based in New York,…
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