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ExecCrimeTM by Berkley Select

Help protect your business from the unexpected. With Berkley Select's new ExecCrime coverage, you can secure your financial future against a wide range of threats, from employee dishonesty to social engineering scams. Our crime product offers a crucial layer of protection, allowing you to focus on your business with confidence.

Crime Insurance: Expanding Your Berkley Select Coverage

Crime insurance from Berkley Select is now available, offering businesses a crucial layer of financial protection as a stand-alone policy or in addition to our EPL, D&O and Fiduciary offerings. From internal employee theft to external scams, our ExecCrime product helps secure your company's financial future.

Target Classes

Our ExecCrime product is designed for a broad range of businesses and nonprofits as a reliable, admitted product, including:

Artisan Contractors

Hotel / Motel

Law Firms

Manufacturing

Restaurants

Retail

Wholesale / Distribution

Market and Coverage Highlights

Claim Scenarios

The Berkley Select claims staff stands out as a team of in-house, experienced professionals empowered to resolve claims. While no two claims are exactly alike, the following examples illustrate a range of claim scenarios.

Employee Embezzlement

A trusted accounting manager creates fake vendor accounts and siphons off $200,000 over two years.

Office Break-In and Safe Theft

Thieves break into a retail store overnight, steal $15,000 in cash from a safe, and damage the premises.

Forged Check Fraud

A fraudster forges the CFO’s signature on company checks and cashes them, resulting in a $50,000 loss.

Cybercriminal Transfers Funds

A hacker gains access to the company’s network and initiates unauthorized wire transfers totaling $100,000.

Fake Vendor Email Scam

An employee receives a convincing email from a fraudster posing as a vendor, requesting a change in bank details. $75,000 is transferred before the scam is discovered.

Counterfeit Currency Accepted

A retail location unknowingly accepts $2,000 in counterfeit bills during a busy holiday weekend.

1 in 5 Crime Claims Involved Company Insiders

$50 Billion Lost Annually

  • U.S. businesses lose approximately $50 billion each year due to employee theft

75% of Employees Admit to Stealing

  • Around three out of four employees admitted to stealing from their employer at least once

30% of Business Bankruptcies

  • Nearly 1 in 3 business bankruptcies are attributed to internal theft

Asset Misappropriation is Most Common

  • Over 80% of employee theft cases involve asset misappropriation - such as misuse of funds or inventory

$357,650 Average Embezzlement Loss

  • The average loss per embezzlement case is over $350,000, often involving long-term fraud by trusted employees

Small Businesses are Especially Vulnerable

  • 22% of small business owners have experienced employee theft, and many lack the resources for robust fraud prevention

Insiders Behind 57% of Fraud

  • More than half of all fraud cases involve company insiders, either acting alone or in collusion with outsiders