We have all heard the news stories of the local Treasurer going to Tahiti with the club funds; can your organization afford this kind of loss?
Fidelity/Crime Insurance protects organizations from loss of money, securities, or inventory resulting from crime. Common Fidelity/Crime insurance claims allege employee/volunteer dishonesty, embezzlement, forgery, robbery, safe burglary, computer fraud, wire transfer fraud, counterfeiting, and other criminal acts.
These claims can involve every possible angle, taking advantage of any potential weakness in your club’s financial controls. From fictitious employees, dummy accounts payable, non-existent suppliers to outright theft of money, securities and property, fraud and embezzlement is on the rise, occurring in even the best organizations.
Who should consider this coverage? Any club that deals with funds. You work hard to raise monies for your organization, make sure you protect your club treasury.