Fidelity and Crime Insurance

February 16, 2021

Fidelity and Crime Insurance


Fidelity and Crime insurance addressed the most common threats to organizations, including losses due to employee dishonesty, credit card forgery, embezzlement, false invoicing, computer and wire fraud.   Crime and fidelity insurance protects your association’s money in the operating and reserve accounts.


Your organization may feel confident that because you have trusted employees or a management company, internal and external oversight and risk management controls in place that there is no need for crime insurance.  Unfortunately, when it comes to occupational fraud and abuse no business or association is safe.   Whether you are a non-profit or for profit business, fraud can happen.  If you are a Condominium or Homeowner association, keep in mind that you could be an easy target.


If your organization/association relies on another company to manage your funds, don’t assume they have enough or adequate coverage to indemnify you for your loss.    If it is a widespread breach would they have enough coverage to protect you and all of their other clients?  Protect yourself by obtaining specialized Crime Insurance.  Don’t assume all of the policies are the same for crime, fidelity or employee dishonesty, check the policy language for coverage and exclusions.  Do not rely on an inexpensive endorsement on your package policy to protect you.


Find an insurance agent which specializes in insuring organizations/associations in your industry.   As association specialists at McDaniel Insurance, we will put together an insurance package designed to protect you.  Please contact us at 502.909.0920 or for all of your association needs in Kentucky, Indiana, Ohio, Tennessee and Florida